We may have been too pessimistic about the success of lockdown. Now the health experts should take charge of a phased ending to social and economic restrictions.
The loss of GDP or national income in this period will probably never be recovered. In rough terms, a loss of 10 per cent of GDP over six months is $100 billion, or $550 million a day.
This loss of income in our community is being spread over millions of people and businesses. It is also reducing our capacity to provide for the wellbeing of our country.
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Andrew Mohl was a senior economist at the RBA and group chief economist at ANZ Bank, before becoming CEO of AMP and an independent non-executive director of Commonwealth Bank.
