From Australia's latest Intergenerational Report:
- Australia's population will live longer and be poorer over the next 40 years
- Slower economic growth
Bummer!
More:
- The national population will reach nearly 39.7 million by 2054-55
- Number of people aged over 65 will double
- Australian economy will settle on a slightly lower growth path, easing to 2.8 per cent from an average 3.1 per cent over the last 40 years
- Intergenerational Report outlines three long-run drivers of economic growth - participation, productivity and population growth
LOL
Plenty of fodder for the hand-wringers
Sydney Morning Herald
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ADDED - The Australian Financial Review have a quick summary of the major points ... not gated!
Added more. Oh wow ... now there's a fantastic report on the Australian Financial Review:
The intergenerational report ... has been used fairly constantly to try to alarm people about how we all face ruin if "something" isn't done about profligate government spending
... political agendas inevitably made their way in to subsequent reports ... the whole idea of projecting the cost of government spending programs out for 40 years ... It's not just that one can go back and note previous projections were correct or incorrect ... the political agendas start to trip over each other, and a look at the history also forms a base from which to decide whether we need to be relatively more alarmed than we were supposed to be previously.
LOL - nice work!
Yeah ... these intergenerational reports. I won't use my one-word description of them.
Not on a family website.
But it rhymes with wrap.
