Ageing Research - some questions

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Ageing Research- some questions

• Richard Murray, Executive Director, Fiscal and
  Corporate, Commonwealth Treasury

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Fiscal Pressure on Budget Balance
Per cent of GDP
Per cent of GDP
2
2
0
0
-2
-2
-4
-4
-6
-6
2002-03
2005-06
2008-09
2011-12
2014-15
2017-18
2020-21
2023-24
2026-27
2029-30
2032-33
2035-36
2038-39
2041-42
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Major components of budget cost
Drivers
Impacts in 40 years
Health
4¼ GDP
Demography
Aged care
1 GDP
½ GDP
Payments to individuals
Average cost of programmes
-½ GDP
Education etc
Total
5¼ GDP
Fiscal adjustment
4
Policy choices
5
Components of GDP growth
Total population
Share of population 15
Participation rate
Unemployment rate
Average hours worked
Capital deepening
Productivity
6
Skills
7
Skills
8
Skills
9
Skills
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Skills education

• School retention rates?
• Foundation skills and lifelong learning?
• Remedial action for increasing skill levels of
  adults of working age?
• Female labour supply and demand for part time
  work?
• Future for unskilled males/females in a changing
  economy?

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Health

• What type of policy interventions generate the
  greatest improvement in health outcomes?
• What is the nature of the link between good
  health and specific aspects of social and
  economic participation, such as labour force
  participation?
• How can we maximise the benefits delivered by the
  subsidised PBS?

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Retirement Decision

• What is the impact of dependent children?
• Will less physically demanding work lead to
  longer working lives?
• What influence does the level of home ownership
  have on the retirement decision?
• Workplace flexibility and the retirement
  decision?
• Relationship between current income, expected
  income in retirement and age of retirement?

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End