Business failures highest since pandemic; Taxation Office chasing $35 billion in business debt

Australian businesses are failing at the fastest rate since the pandemic as painfully high interest rates take their toll, according to the credit reference agency CreditorWatch. The insolvencies are being exacerbated as the Australian Taxation Office attempts to recover $35 billion in outstanding debt, with the 29,000 businesses owing an average $100,000. Reporter: Peter Ryan, Senior Business Correspondent Featured: Ivan Colhoun, chief economist, Creditwatch Keywords: