Page 75 - Intergenerational Report News Today

Reuters 3 minute read Australian Prime Minister Scott Morrison arrives at Haneda airport in Tokyo, Japan, November 17, 2020. REUTERS/Issei Kato MELBOURNE, June 28 (Reuters Breakingviews) - Depressing trends lurk beneath Australia’s impressive economic rebound read more . Sharply curtailed migration and falling fertility during the pandemic have exacerbated the demographic challenges of an ageing population, according to the government’s first so-called Intergenerational Report ...

Treasurer Josh Frydenberg discussing the 2021 Intergenerational Report (Image: ABC) While todays Intergenerational Report (IGR) will be treated with due reverence by the media and considered as a thoughtful contribution to long-term fiscal and economic debate, does it have any point whatsoever? The reports, since the first one in 2002, have shared Treasurys long tradition of spectacular misses in forecasts. The department that routinely struggles to get four-year forecasts right, it turns out,...

(Steven Saphore, Anadolu Agency via Getty Images) A smaller Australian population due to COVID-19 will hurt the economy for decades to come, the government’s new Intergenerational Report has warned. Unveiling national projections until 2060, Treasurer Josh Frydenberg revealed Australia faces an economic slowdown as it becomes an older and smaller nation, compared to previous outlooks. Careful management of future migration will be “key” to combatting that fate, Frydenberg said on Monday...

Date Time Intergenerational challenges can be solved by science Australia must ‘level up’ on our outlays in income-generating R&D and research translation to tackle the vast structural economic, social and budget challenges ahead, the nation’s peak body for science and technology has said. Science & Technology Australia Chief Executive Officer Misha Schubert said the Intergenerational Report’s forecasts made an urgent case for STEM investment. “A slowing economy, a major productivity ...

Date Time IGR shows super will lift living standards and ease burden on aged pension The Intergenerational Report has once again confirmed Australia’s compulsory super system has lifted living standards for millions while easing the burden on the aged pension. Despite an ageing population, lifting the super rate to 12% and the maturing superannuation system will see fewer future Australians rely on the taxpayer-funded aged pension to support themselves in retirement. The pension cost is expec...

MacroBusiness Access Subscriber Only Content The Australian. Seriously, check out the below headline relating to today’s Intergenerational Report (IGR), which will be released by Treasurer Josh Frydenberg this afternoon: Australia’s population to shrink? WTF? Australia’s current population, according to the Australian Bureau of Statistics (ABS), is 25.7 million. According to today’s IGR, Australia’s population will reach 38.8 million by 2060-61. That’s a whopping increase of 13.1 mi...

The Urban Development Institute of Australia wants pre-pandemic immigration levels revived in a bid to rev up apartment market construction. Treasury is forecasting a big population slowdown.

An inheritance duty set at a similar rate as the GST would stop young people being treated as peasants and the old and rich as the nobility by the taxation system.

A NSW Treasury paper proposes a policy that reflects years in ill-health will increase as life expectancy increases, but the severity of illness will fall.

Sydney news: Marine Rescue detangles whale caught in netting off NSW coast Heres what you need to know this morning. What NSW will look like in 2061 The NSW government will today reveal a snapshot of the state 40 years from now. The Intergenerational Report is prepared by Treasury every five years and brings together demographics, housing needs, workforce trends, and key economic factors. It is used to identify challenges and opportunities likely to emerge over the coming decades. According t...