2007 Intergenerational Report Highlights the Need for Long-Term Reform Planning

Business today welcomed the release of the federal government’s 2007 Intergenerational Report, saying the report showed the importance of strategic policy action in tackling the challenges of an ageing population.

BCA Chief Executive, Katie Lahey, said the report’s finding that proactive workplace participation policies had led to increased workforce numbers was particularly significant, given this was the biggest barrier to reducing the projected fiscal deficit.

But at the same time, the issue of the ageing population required constant attention, with a number of important policies still to be put in place.

“Australia has a unique opportunity to set its sights higher to depart from past economic cycles that have seen the nation’s fortunes decline because of a failure to manage prosperity effectively,” Ms Lahey said.

“To sustain growth in the future, governments today need to shift their thinking to better manage long-term, supply-side challenges. These challenges are intergenerational. To deal with them, governments must depart from ‘just-in-time’ fixes and adopt a mindset that involves more strategic decision making.

See full Press Release.