Sydney news: Marine Rescue detangles whale caught in netting off NSW coast
Here s what you need to know this morning.
What NSW will look like in 2061
The NSW government will today reveal a snapshot of the state 40 years from now.
The Intergenerational Report is prepared by Treasury every five years and brings together demographics, housing needs, workforce trends, and key economic factors.
It is used to identify challenges and opportunities likely to emerge over the coming decades.
According to this year s report, in 2061 the state s population will increase by 40 per cent but there will be a decline in fertility rates.
MORNING BRIEFING: The mission to rescue a whale tangled in netting off the NSW coast has been a success, and the 10-week defamation trial of Ben Roberts-Smith begins.
It’s said that politics has changed since the golden age of reform in the 1980s and 1990s. But that’s all the more reason to make the effort that seems lacking now.
Tax rises are inevitable after COVID-19
Not many politicians will admit it before the next federal election, but it is inevitable that taxes will rise in coming years to pay for the financial hangover of COVID-19.
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Not many politicians will admit it before the next federal election, but it is inevitable that taxes will rise in coming years to pay for the financial hangover of COVID-19.
Well after the “temporary” fiscal stimulus fades, Treasury’s long-term budget projections show that government spending will remain elevated at above 26 per cent of gross domestic product and revenue will be about 24 per cent of GDP in five to 10 years from now.
What the 2021 Budget tells us about Australia s population directions
Independent Australia
13 May 2021, 16:52 GMT+10
The Government appears to have again postponed the Intergenerational Report to an unspecified later date. But it did update its population assumptions in the 2021 Budget which again highlight its eagerness to get the population rising strongly once international borders re-open.
The revised population projections in the 2021 Budget are in Table 1 below:
Table 1: Population forecasts in 2021 Budget
After the silliness of the 2019 Budget when the Government forecast fertility rising to 1.9 births per woman from 2021, the Government has regained its senses and is now forecasting fertility falling to 1.61 births per woman in 2020-21 (down from a record low of 1.65 births per woman in 2019-20).