The population of Australia is going to hit the 35 million mark in the next 40 years. Earlier, it was predicted to be 28 million. It was also said that the larger population will be younger on average. Also, the percentage of people aged 65 of the total population, which is 13 at present, is estimated to be 22. It has been said that the major reasons for this increase are rising birth rates and rapid immigration to Australia.
The above projection states that the population will grow by 62.8 % instead of 32.5 % which was projected in the earlier survey, two years ago. The fertility rate has also increased in the past years. It has risen from 1.79 to 1.93 births per woman, the highest figure since 1980s.
Due to the unprecedented rate of migration the net number of migrants (immigrants less emigrants) has risen from 146,800 two years ago to 213,700. Migrants are younger on average than the average population. Hence, they contributed to bring down the overall age of the population.
The unexpected growth in the population will bring a modest 3.3 percentage point reduction in the number of people aged over 65 from the 2007 estimate of 25.3per cent. Mr Swan admits that people that are of 85 years or above will rise form 1.7 per cent now to 5 per cent over the next 40 years. This compares with an estimate of 5.6 per cent made in the last intergenerational report.
The treasurer also said "New policies will have to be funded by reprioritising within existing resources, rather than expanding the total quantum of government spending - doing more with less," He will launch a new institute on population research to be headed by John Piggott, who is an expert in the economics of retirement and pensions and is a member of the Treasury's tax review panel.
“When we make policy, we need to have the courage to adapt to changing demographic trends.” He added.
Immigration to Australia should be considered as matter of concern. Negligence of it will make the above condition more miserable.
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