The world will have fewer workers to service the heavy debts of ageing populations. Amid such conditions, Australia cannot afford to abandon its natural advantages.
There are powerful reasons why governments can’t ignore the dwindling number of working-age Australians revealed in this week’s Population Statement 2023.that appeared in the pandemic will have blown out to 1.2 million fewer people than expected in the 2019-20 midyear economic and fiscal outlook just before COVID-19 hit, with fewer births, fewer migrants and fewer migrants’ children.
The pandemic brought an unhealthy reset in public notions of how much governments should borrow and spend, protecting populations against everything from old age to higher gas bills.Since the global financial crisis, governments have used loose monetary policy and easy debt to avoid hard reforms that might
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