Second Intergenerational Report Released by Treasurer
Posted
by DPS
The Federal Treasury has almost halved its of the cost of an ageing
Australian population. However these costs will still push the budget into a $35 Billion deficit in today’s money, in 4o0 year’s time. This assumes no changes in taxes.
The Treasurer, Peter Costello, has released the report which follows up
the inaugural 2002 Report. The initial report painted a gloomier, and
costlier future, but the latest report sees a drop in pharmaceutical
prices, plus a sharp lift in export prices, and improved assumptions
about migration, birthrates and employment of older workers.
Balancing these is the sharp jump in longevity- to 86 years for men and
almost 90 for women, which pushes up the expected bill for aged
care,pensions and other health services.
