Intergenerational Report: Changes in Government forecasts from 2021 to 2023

The latest iteration of the Intergenerational Report arrived this week. The challenges are well known. We have an ageing population, increasing (and unsustainable) spending in health and aged care and a tax system in need of a refresh.

Concerningly, the report predicts government spending as a proportion of our GDP will never be lower than it was last financial year.

Some of the deteriorating forecasts are summarised here.