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The Australian government is keen to fly in skilled migrants to fight back against slowing growth and a shrinking population

(Steven Saphore, Anadolu Agency via Getty Images) A smaller Australian population due to COVID-19 will hurt the economy for decades to come, the government’s new Intergenerational Report has warned. Unveiling national projections until 2060, Treasurer Josh Frydenberg revealed Australia faces an economic slowdown as it becomes an older and smaller nation, compared to previous outlooks. Careful management of future migration will be “key” to combatting that fate, Frydenberg said on Monday, as the government considers flying in skilled migrants on top of existing quarantine caps. Australia is becoming a nation of slower economic growth, falling population growth, and staggered migration, Treasury has admitted.

Hong kongSteven saphoreJosh frydenbergCentre of economic development australiaAnadolu agencyGetty imagesIntergenerational reportTreasurer josh frydenbergEconomic developmentWest australianஹாங் காங்கெட்டி படங்கள்இடைநிலை அறிக்கைபொருளாதார வளர்ச்சிமேற்கு ஆஸ்திரேலிய

Intergenerational challenges can be solved by science

Date Time Intergenerational challenges can be solved by science Australia must ‘level up’ on our outlays in income-generating R&D and research translation to tackle the vast structural economic, social and budget challenges ahead, the nation’s peak body for science and technology has said. Science & Technology Australia Chief Executive Officer Misha Schubert said the Intergenerational Report’s forecasts made an urgent case for STEM investment. “A slowing economy, a major productivity challenge, a dropping birth rate, and a long-term COVID hangover sharpen the imperative for clever investments now to put Australia on a path to become a global science and technology superpower,” she said.

Misha schubertScience technology australiaIntergenerational reportTechnology australiaமிஷா ஸ்கூபர்ட்அறிவியல் தொழில்நுட்பம் ஆஸ்திரேலியாஇடைநிலை அறிக்கைதொழில்நுட்பம் ஆஸ்திரேலியா

IGR shows super will lift living standards and ease burden on aged pension

Date Time IGR shows super will lift living standards and ease burden on aged pension The Intergenerational Report has once again confirmed Australia’s compulsory super system has lifted living standards for millions while easing the burden on the aged pension. Despite an ageing population, lifting the super rate to 12% and the maturing superannuation system will see fewer future Australians rely on the taxpayer-funded aged pension to support themselves in retirement. The pension cost is expected to drop from 2.8% of GDP today to 2.1% in 2060. The proportional decrease in pension costs occurs even as Australia’s older population doubles. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here.

Intergenerational reportஇடைநிலை அறிக்கை

The award for the fakest news headline goes to

MacroBusiness Access Subscriber Only Content The Australian. Seriously, check out the below headline relating to today’s Intergenerational Report (IGR), which will be released by Treasurer Josh Frydenberg this afternoon: Australia’s population to shrink? WTF? Australia’s current population, according to the Australian Bureau of Statistics (ABS), is 25.7 million. According to today’s IGR, Australia’s population will reach 38.8 million by 2060-61. That’s a whopping increase of 13.1 million people – equivalent to adding another Sydney, Melbourne and Brisbane to Australia’s existing population over the next 40 years. On what planet does The Australian live to claim that a ~50% increase in Australia’s population constitutes shrinking? Especially when its own chart shows the polar opposite:

New south walesJosh frydenbergAustralian bureau of statisticsIntergenerational reportTreasurer josh frydenbergAustralian bureauபுதியது தெற்கு வேல்ஸ்ஆஸ்திரேலிய பணியகம் ஆஃப் புள்ளிவிவரங்கள்இடைநிலை அறிக்கைஆஸ்திரேலிய பணியகம்

Intergenerational report: Five charts that show what Australia may look like in 2061

Intergenerational report: Five charts that show what Australia may look like in 2061
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