Summary: An omicron outbreak planning document written for the PM warns of the potential for thousands of cases a day and severe pressure on ICU beds. Global markets wobble again on rates fears. Britain plans to remove covid restrictions next week. Decisions on the 'traffic light' system are due today from Labour's annual caucus retreat near New Plymouth and on management of omicron.
Leaked warning A planning document written for the Department of Prime Minister and Cabinet has been leaked to Māori TV and warns of severe pressure on ICU and hospital beds in the event of an inevitable omicron outbreak.
The leaked warning came as a second omicron case in the community was reported on Wednesday night in Auckland. An Auckland airport worker who has been infectious for five days in the community tested positive late yesterday.
Exemptions called for Retailers and truckers are calling on the government to urgently provide exemptions from close contact isolation rules for truckers and shelf stackers to avoid the supply chain disruptions seen in Australia in recent weeks.
Relaxing restrictions British PM Boris Johnson announced overnight that most of the country’s covid restrictions would be relaxed next week as the latest omicron wave peaks. His announcement came as momentum builds within the governing Conservative party to remove Johnson and after fresh inflation figures showed intense pressure on real disposable incomes.
War fears A further buildup of Russian troops around the borders of Ukraine, including in neighbouring Belarus, is causing growing concern that Moscow may be willing to start a 'hot' war to annex Ukraine. Russian naval buildup in the North Sea between Britain and Norway is a further indication of tensions rising.
Markets wobbling US stocks and bonds recovered somewhat overnight after Tuesday night’s slump on inflation and interest rate fears. Tech stocks fell near the close into correction territory of being down 10% for the year. The German 10 year bund yield briefly moved into positive territory overnight for the first time in nearly three years.
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