Intergenerational report projects government spending will rise by $140 billion, 5.6 per cent of GDP
1 year, 4 months ago

Intergenerational report projects government spending will rise by $140 billion, 5.6 per cent of GDP

ABC  

Health, aged care, NDIS, defence and interest payments on debt will account for half of Commonwealth spending in 40 years' time, according to an excerpt from the Intergenerational Report, set to be released in full by Treasurer Jim Chalmers on Thursday. Key points: The full intergenerational report will be released this Thursday The government is set to spend more on health and aged care Jim Chalmers says the report shows the pressure on the budget will intensify Those areas currently account for one third of total spend, but the excerpt revealed that by 2062-63, spend on those five categories was expected to rise by about $140 billion or 5.6 per cent of GDP. Loading "While health spending is growing more slowly than NDIS, aged care or interest, it represents a larger share of total spending," the report said. The whopping budget saving that's flying under the radar Photo shows Treasurer Jim Chalmers holds a copy of the 2023-24 federal budget strategy and outlook book in front of the media We now know what the government thinks it will cost to futureproof the NDIS — a whopping $74 billion in savings over the next decade.

Health Budget Care Spending Report Billion Cent Spend Ndis Jim Chalmers Intergenerational Report  spending  care  spend  report  budget  140  aged  population  rise  intergenerational  gdp  billion  56  cent  health  projects  ndis

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Aged Care Taskforce rejects tax levy and proposes funding based on personal wealth
9 months, 1 week ago

Aged Care Taskforce rejects tax levy and proposes funding based on personal wealth

ABC  

In short: A taskforce has rejected the idea of increasing taxes to fund the aged care sector. The federal government established a taskforce last year to find out how the country could properly fund aged care, following a range of recommendations made by a damning royal commission into the sector. The government currently funds 75 per cent of residential aged …

Forty years from now, an extra 13.8 million people will call Australia home, Intergenerational Report says
1 year, 4 months ago

Forty years from now, an extra 13.8 million people will call Australia home, Intergenerational Report says

ABC  

The number of Australians aged 85 and over is set to more than triple in the next 40 years as the country's population swells to 40.5 million – about 13.8 million more than the current population. Key points: The full intergenerational report will be released by Treasurer Jim Chalmers on Thursday Australia's population growth will slow to 1.1 per cent …

More than 90 million Indians spend ‘catastrophic’ 10-25% of household expenses on healthcare
1 year, 5 months ago

More than 90 million Indians spend ‘catastrophic’ 10-25% of household expenses on healthcare

Hindustan Times  

Healthcare expenditure of around 90 million Indians has crossed the ‘catastrophic’ levels – a state of financial condition where health spending exceeds 10% threshold of household consumption, posing a threat to maintain the subsistence needs. According to the Sustainable Development Goals National Indicator Framework Progress Report 2023, a total of 31 million people living in families spend more that a …

Here's your summary of the highlights in the 2021 federal budget
3 years, 7 months ago

Here's your summary of the highlights in the 2021 federal budget

ABC  

The government will be far happier to deliver this budget than the one it was expecting to have to hand down a year ago. The key numbers: The budget is $106 billion in deficit this year, with deficits forecast for the next decade The biggest spend is $17.7 billion on improving aged care, in particular funding thousands of extra home …

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