Interestingly the retirement age is increased from 2023 to 67, given that we will have 4 million people aged over 65 in Australia by then, rising to 5.5 million over the age of 65 by 2050 we have to start to address this issue today.
I have often spoken about the reality that we are all destined to live and work longer and the government has now finally sanctioned it. This will mean huge changes in our society, workforce, health sector and more, are we ready? – nope, but perhaps this wake up call we need to start the debate.
I though it also strange that the Australia Tax Office is getting $70.9 million to ensure we cough up our dues, and $100.1 million to help us if we can’t – does this seem like tautology.
The innovation and education spending are welcomed, but I’m one of those saying give me more and give me details.
Also loved the bit about us coming out of the recession in about 2 years with 4.5% growth and then followed by 10 years of solid growth – I’m the eternal optimist, but if we’ve learnt anything from the past it’s that the economic cycle of boom and bust (yes I know that’s a crude way of describing it) doesn’t last 10 years.
Anyway the rest of my thoughts are in this post budget review ABC radio interview…