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Australian Population, demography, ageing, retirement, immigration, tax and services

Big Australia is a taxing problem but one we must get a grip of. AS you might have gathered from reading this column and from my commentary in the broader media, I am a rare being: a supporter of Big Australia. Specifically, this is the view that this nation should follow the trajectory to 35 million by mid-century… But from next year onwards baby boomers born in 1946 begin to exit the workforce at a faster rate than Generation Ys born in 1996 enter the workforce….. Rightly or wrongly, this nation has an unfunded liability in the form of retiring baby boomers.

Retirement revolution to shake world. YESTERDAY was my 58th birthday. If I were a Greek worker, I could retire. Although pension payments in Greece normally start about 61, special provisions allow anyone to retire at 58 if they have been in employment for 35 years. That, as it happens, is how long I have been at work. My index-linked pensions from the Greek government would be worth 75 to 90 per cent of the average salary in the country, guaranteed for the rest of my life by the state… If you want to know why Greece is going bankrupt and why the euro seems to be on the verge of disintegration, look no further…

…The battle over bailouts in Europe is only a sideshow compared with the great social conflict for the world in the next 20 years. This will not be a struggle between nations or social classes but between generations – and it is a conflict that begins in earnest this year.

Treasury push for big migration boost to offset population ageing
. TREASURY briefings to Population Minister Tony Burke advocate a high migration rate being used to offset the impact of Australia’s ageing population and help maintain economic growth. But Treasury remains concerned the states are unprepared for a population boom, with housing shortages and infrastructure bottlenecks across the nation…

While Treasury forecasts NOM nonetheless falling to 180,000 by 2020, before plateauing, it warns a further fall to 100,000 and lower fertility would be enough to slow growth to 2.3 per cent, and slash gross domestic product by 17 per cent by 2050.

“Population growth ameliorates the ageing of the population,” the ministerial brief states.

“Migrants tend to be younger on average than the resident population, boosting the labour force.”

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