Truthy untruths: behind the facade of the Intergenerational Report - Business Spectator
Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report. Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website. The ostensible purpose of the 2015 Intergenerational Report is to ensure Australia’s future prosperity in the face of demographic ageing over the next 40 years. The Coalition won the 2013 election as the party of economic management, a party that would balance the books after years of Labor profligacy, hence the 2014-15 budget cuts. The report uses the alleged ageing crisis to legitimate these budget cuts, as well as a high rate of immigration-fuelled population growth. First, on page 1, the IGR says labour force participation will fall because the number of people aged 15-64 for every person 65 plus will drop from 4. 5 today to just 2. 7 in 2055. This fall will reduce per capita economic growth. Second, the cost of providing health care, pensions and aged care for an older population will balloon. from 1990-91 to 2005-06 the annual average was 95,000. Together with natural increase, it will inflate the population from 23. 8 million today to 39. 7 million, an increase. Source: www.businessspectator.com.au
