Michael is joined by Brendan Coates, Grattan Institute Household Finances Program Director, about the institute’s new estimates that the bottom 40 percent of working households have the equivalent of three weeks’ income or less in the bank… and a quarter of all working households have less than a week’s salary put aside for a rainy day – or a pandemic.

Mr Coates warns that working households, where at least one member is in work, will be the most vulnerable to the current crisis as pensioners and those on government payments like Newstart are already doing it tough, but the crisis would not affect their cash flow.