My thoughts are they are both fairly right. Not only is the UK...

My thoughts are they are both fairly right. Not only is the UK facing major issues with Covit 19 (CV19) containment but if a 'no deal' Brexit occurs , which is the current bias on negotiations the exchequer will be facing circa100bln pound deficit to cope with alongside the CV19 liquidity spending.These issues will be further hampered by the deteriorating relationship between Hong Kong and the UK and the potential fallout.
Latest example being HBSC bank which reported to day (UK majority shareholders being barclays, and blackrock investment managementUK) with earnings down circa 50% citing CV19 and souring relations between China and the UK over Hong Kong.
If matter continue down these paths in the UK, Government will most certainly be facing the possibility of introducing austerity measures to help solve their economic issues ( I suspect the Brexit talks will go to wire and very cautiously optimistic that some sort of deal will be struck rather than an acrimonious divorce with no winners)

Australia's woes and current economic risk profile I consider to be far less than that of the UK.

A further point of interest is the percentile makeup of the FTSE 100 vs ASX 200 with the most materials occupying some 20.5% of the ASX 200 whereas the FTSE 10.53%
I have attached GICS sector breakdown for both if it is of interest

https://www.marketindex.com.au/asx-sectors
https://siblisresearch.com/data/ftse-100-sector-weights/

Personal mulling only, of an 'average joe" investor