Australia has done far better than was expected only a few months ago in suppressing the virus, allowing businesses to keep supplying households and providing jobs and in easing restrictions. The Victorian experience should not be seen as a reason to switch to an elimination strategy that would tank the economy. Rather, we should get the execution of the suppression strategy right, identify and correct mistakes and do our utmost to locate, isolate and treat new infections.
Pursuing an elimination strategy would require us to close ourselves off from the rest of the world indefinitely and it would require draconian restrictions on Australian citizens and businesses. The costs of going down this route would be far greater than the extra benefits of seeking complete elimination.
We also need to bear in mind the economic challenges to come with the scheduled end of existing jobkeeper and the additional jobseeker payments. Imposing the costs of an elimination strategy on top of a winding back of fiscal stimulus would sap businesses confidence and make many wary of investing in a second attempt at recovery.