MacroBusiness Access Subscriber Only Content By William Bourke, President of the Sustainable Australia Party On 28 June, the fifth ‘Intergenerational Report’ (IGR) was finally released. After a long delay, Federal Treasurer Josh Frydenberg and the Treasury lay it all out. The problem is the IGR is based on one big lie. Treasurer Josh Frydenberg outlines how 30 years ago, for each person aged over 65, there were 6.6 people of “working age”. Today, there are four working age people and by 2060-61, there will only be 2.7 for each person aged over 65. In other words, the economy can’t afford an ageing population. You’d think workforce participation had gone down in the last 30 years, with worse to come. It hasn’t. The opposite has happened.