/ 22 August 2023

Getting ready for a 40-year view…

Image source: AAP
Image source: AAP

We’re in for the big-picture of Australia’s economy on Thursday when Treasurer Jim Chalmers releases Australia’s sixth Intergenerational Report. What the what? Initiated by Peter Costello back in 2002, these economic reports give a long view of trends that will affect Australia’s budget and our standard of living 40 years into the future. And while we’ll have to wait for Thursday to get the whole report, Chalmers yesterday dropped some hints that we need to deal with our ageing population and growing need for care (more on that in a sec…). At the same time, we’ll have new economic opportunities built around technological change and artificial intelligence. One of the splashiest numbers is the forecast that our population is expected to reach 40.5 million by 2062-63. That sounds big, but it would be our slowest growth since Federation…

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