Rethinking post-covid optimism

Economic headwinds are rising, knocking future growth potential. (Image: Getty)

Fri, 15 Oct 2021

The latest Crown financial statements showed the benefits of covid elimination and a strong economic recovery buoying tax revenue, with the operating balance before gains and losses (OBEGAL) coming in at minus $4.6 billion, $10.6b better than expected. The residual cash deficit was $13.8b, which is still a substantial cash bleed, though substantially better than the projected $25.3b.Plaudits. But that was then. This is now. Turning OBEGAL deficits into surpluses and containing debt is not going to be easy. While we should not ov...

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