I've read the 300-odd pages of the Intergenerational Report pretty carefully and, with the exception of the section on climate change, I'm yet to find anything particularly alarming, writes Peter Martin.
: "Young Australians at risk of a poorer future", "Fewer workers to shoulder soaring income tax", "Ageing population driving $140 billion blowout in spending", and so on.The picture painted is one of a future in which dependants have far fewer people of working age to care for them, in which tax climbs dramatically to pay for the care of the elderly, and in which the next generation is poorer than this one is.is like that, but not the numbers.
Examining only half the ratio without also examining the other half is hard to justify — unless the argument is that the Commonwealth is responsible for aged care and the states for schools.In 40 years' time Australia will need fewer childcare workers and more aged care staff. What will matter is the ratio of potential workers to people aged under 15 as well as aged 65 and older, both old and young.
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