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Treasurer Wayne Swan releases the much anticipated Intergenerational report

Posted by: 2UE | 1 February, 2010 - 1:44 PM

Treasurer Wayne Swan has released the much anticipated Intergenerational report.

This sets out how Australia's population will look by the year 2050; it predicts there will be 36 million people inhabiting the continent by then.

It says the number of people aged over 65 will double by 2050 and our spending on health will increase from 22 per cent of Gross Domestic Product (GDP) to 27 per cent.

Treasurer Wayne Swan says 'this will be a dramatic change for our country.' The Government will spend 43 million dollars on training for seniors Australians, to help them stay in work longer; but the Treasurer says older people won't be forced to work, if they don't want to.

Listen to an excerpt of the Treasurer addressing the National Press Club here:

The Government's clearly putting off any serious changes until after it's released the Henry tax review; that's likely in March. Expect much more substantial responses from Labor then, and closer to the election and in particular, watch out for tax incentives to encourage people to work longer, and a possible increase in the compulsory superannuation rate.


Blog comments Your Say

  • Just shows how out of touch and ignorant Swan, Krudd and the rest really are. Just how is new school halls are going to achieve what he promises

    z Monday 1 February, 2010 - 3:23 PM

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