Click Bait Post time to blame all govsomethings over the last...

First 115 Last

Share
Profile

Follow
Trees

43,630 Posts.

92

24/08/23

20:01

Post #: 69535357
Share

Originally posted by johngalt815 ↑

The federal budget is set to fall back into deficit this financial year and stay that way for the next four decades, as an ageing population increases spending pressures, the tax base erodes, and climate change ravages traditional revenue sources while imposing extra costs on the economy.

In launching the report at the National Press Club, Dr Chalmers said that to buttress the economy for next 40 years, governments had to show the same policy vision as the Hawke/Keating government showed in the 1980s,which had enabled the economy to flourish over the past four decades.

The Intergenerational Report forecasts the population to reach 40.5 million by 2062-63, by when the number of people aged over 65 will have doubled, the number of those aged over 85 will be triple that of now, and there will be a six-fold increase in those aged over 100.

The five fastest-growing costs on the budget – the National Disability Insurance Scheme, interest payments in debt, defence, aged care and health – will between them cost $140 billion more a year in today’s dollars than they do now.

https://www.copyright link/politics/federal/forty-years-of-deficit-as-climate-and-ageing-population-ravage-economy-20230824-p5dz0t

Expand

Click Bait Post

time to blame all govsomethings over the last 30years or more.

yep all the LNP and Labor lovers

Mirror Mirror Mirror

Last edited by Trees: 24/08/23
Upvote

Reply

Top Stories

SS1

Sun Silver submits US$60M Silver Paste Funding Application to US DoE

Time for retail therapy buying in the shopping Scentre for hot stocks

Eurozone-based companies find new ways to secure a regional lithium supply

End of FY is a time to juggle wins, losses and capital gains taxes

With financials holding the fort, materials must step up with some heavy lifting to stimulate stocks