Prime Minister Scott Morrison says Tighter coronavirus restrictions in Victoria will lead to as many as 400,000 people losing their job or seeing their hours reduceD to zero and a 10 per cent national jobless rate by year’s end.

Mr Morrison said the revised Treasury forecast was for a reduction in real gross domestic product in the September quarter of up to $12 billion.

“This is a heavy blow – a heavy blow,” Mr Morrison told reporters in Canberra on Thursday.