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Aussies to Live Longer Despite More ‘Unequal’ World
The report says life expectancy will rise and the economy will be twice its current size, while the budget remains strained.
On Monday, Treasurer Jim Chalmers will release the government's second Intergenerational Report, a wide-reaching forecast of the Australian economy 40 years from now.
Australians born in 2065/66 are expected to live longer, healthier lives, with life expectancy predicted to reach almost 90 for girls and 86 for men.
Population growth will slow to less than 40 million in 40 years, while the economy becomes twice its current size and future government debt is slashed by half a trillion dollars compared to the 2023 report.
Opposition Leader Angus Taylor on Sunday claimed Labor would "cook the books" and rely on rosy productivity assumptions to deliver better-than-expected budget forecasts.
Chalmers warned that global risks are serious, yet Australia's opportunities remain endless; the Commonwealth faces a choice to "Keep up and succeed or lag and languish.