Government Intergenerational Report

This is a policy recommendation report from the Australian Treasury Department, so their emphasis is on tax and government spending effects.
Today, the government publishes this report. It goes to the tax and spending needs, as the population ages. Critically, it will harbour on savings and health care needs. I expect there to be major new incentives announced to increase savings. Thus the recommended Super Guarantee Levy might be raised from current of 9 % , aiming for 15% overtime. Currently, Australians are perceived as better spenders than savers. This, I argue, is largely due to their historical view of inflation and taxation.  A careful analysis might reveal that Australians are saving plenty: but most of this is inputed into home stock. It has the best tax advantages.
While, most of us don”t save enough in superannuation.  This is due to the preservation effects and perverse taxes which had superannuation benefits limited to a multiple of final salary.
Let hope, there are some very excellent ideas in this report. The critical  thing will be, what gets implemented, as distinct from what gets just recommended. I.G.R. projects health spending to rise trom 7.5% of GDP to 12.6 % by 2050, as the proportion of population ages, example the over 65 s to rise from 3 M to 8 M. Australia’s population is expected to rise from 22M to 36M over the next forty years.
Much of this comes down to political preferences.
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