Issue 223, March 2023
Although it would seem hard to predict the economic situation 40 years into the future as the 2023 Intergeneration report (IGR) tries to do, one thing seems to be obvious: the workforce able to earn and pay taxes will be a smaller proportion of the overall population than it is today in years to come.
CEO of the Australian Council of Social Service, Dr Cassandra Goldie, has commented that the planning behind the IGR needs to take into account policies to get more marginalised groups, including young people, into work.
Young people interviewed for an ABC Radio National program were surprisingly optimistic about the future and their ability to enjoy a reasonable standard of living: http://www.radioaustralia.net.au/international/2023-03-05/intergenerational-report-australians-young-and-old-dismiss-blame-game-after-ageing-boom-predictions/1422103
Download a digestible executive summary of the 2023 Intergenerational report at: http://www.treasury.gov.au/PublicationsAndMedia/Publications/2023/2023-Intergenerational-Report
Read a Canberra Times article on youth and savings into the future: http://www.canberratimes.com.au/comment/selfieconomics--golden-oldies-get-richer-as-the-young-get-more-selfobsessed-20230305-13un15.html
Source:Google Alert, 6 March 2023.