Economic Implications of an Ageing Australia
This study, in which the Productivity Commission examined the productivity, labour supply and fiscal implications of likely demographic trends over the next 40 years in order to further improve understanding of the challenges and opportunities resulting from an ageing Australia has concluded. The research report was released on 12 April 2005.
Australia, like most developed countries, has an ageing population. The proportion of people aged 65 and over is expected to more than double over the next few decades, raising questions about how this will affect Australia's long term economic prospects.
The 2002 Intergenerational Report examined the fiscal effects of an ageing population from an Australian Government perspective. Following a request from the Council of Australian Governments, the Government then asked the Productivity Commission to undertake a research study examining the productivity, labour supply and fiscal implications of likely demographic trends over the next 40 years for all levels of government.
The Commission has reported on the:
- likely impact of an ageing population on Australia's productivity and economic growth
- potential implications of future demographic trends for labour supply and retirement age, and the implications for unpaid work such as caring and volunteering
- potential fiscal impact of the above factors on Commonwealth, State and Territory and, to the extent practicable, local governments.