Australia to 2050 : future challenges /Publisher: Canberra, A.C.T. The Treasury 2010ISBN: 0642745765; 9780642745767Other title: Intergenerational report 2010Subject(s): Older People Economic Aspects - Statistics | Ageing Government Policy | Sustainable Development | Age And Employment | Finance, Public | Climatic Changes Social Aspects | Economic Development | Ageing | Taxation | Service ProvisionOnline Resources: Electronic copy
January 2010. This is the third Intergenerational Report Executive summary: 1. An ageing and growing population ; 2. The economic and fiscal implications of an ageing population ; 3. Responding to the implications of an ageing population ; 4. Climate change and the environment ; 5. Social sustainability ; 6. The Government?s policy response -- Ch. 1: LONG-TERM demographic and economic projections: 1.2 Real GDP ; 1.3 Population ; 1.4 Participation ; 1.5 Productivity ; 1.6 Growth in real GDP per person ; 1.7 Prices, wages and nominal GDP -- Ch. 2: growing the economy ? productivity, participation and population: 2.1 Promoting higher productivity growth ; 2.2 Participation ; 2.3 Population -- Ch. 3: long-term budget projections: 3.1 Promoting fiscal sustainability: contribution of the medium-term fiscal strategy ; 3.2 Revenue ; 3.3 Ageing pressures will reduce fiscal sustainability ; 3.4 Net financial worth and net worth -- Ch. 4: ageing pressures and spending: 4.1 Projections of total spending ; 4.2 Health ; 4.3 Aged care ; 4.4 Pensions and income support payments; 4.5 Education and training ; 4.6 Government employee superannuation ; 4.7 Defence -- Ch. 5: climate change and the environment: 5.1 Climate change ; 5.2 Water ; 5.3 Land -- Ch. 6: a sustainable society: 6.1 Wellbeing and sustainability ; 6.2 The environment ; 6.3 Human and social capital: education, skills and health -- References -- Appendix A: IGR 2010 projections summary ; App. B: Sensitivity analysis of long-run economic and fiscal projections ; App. C: Methodology ; Appendix D: IGR 2007 projections
The Intergenerational Report 2010 provides a comprehensive analysis of the challenges that Australia will face over the next forty years. It is a timely reminder that the decisions we take over the next four years will be crucial to our economic prospects and living standards over the next forty.The key conclusion is that an ageing population and climate change present significant long-term risks for the economy and the sustainability of government finances. As the population ages, the rate of economic growth will slow. Pressures for government spending will increase, particularly in the health sector. At the same time, we will face the global challenge of climate change, which represents the largest threat to our environment and one of the most significant challenges to our economic sustainability. The Government has begun to address these challenges through a broad agenda that includes supporting productivity growth through investment in infrastructure, skills and education, overhauling our health system to ensure it delivers maximum value for money, adhering to a disciplined fiscal strategy and introducing the Carbon Pollution Reduction Scheme.This is the first Intergenerational Report of the Rudd Government and is being released in accordance with the Charter of Budget Honesty Act. In addition to assessing the fiscal and economic challenges of an ageing population, this report also includes a comprehensive discussion on environmental challenges and social sustainability. The challenges outlined in the Intergenerational Report are substantial, but they are not beyond a nation like ours -- Forward.