Pros And Cons Of An Ageing Population

The Intergenerational Report released by Joe Hockey claimed that we have an “ageing population”, and that more workers are needed in order to sustain the health care and pensions in the future. On the contrary, there is a demographic imbalance of young people who are dependant on families, welfare and are in a difficult employment situation in our economy. Rather than “ageing population” crisis, more concern should be placed on dependency rates of young people and how future welfare taxes can be increased. The article stated that the workforce can be increased and the dependency ratio can be easily manipulated just by adding more people, thus addressing the current economic challenges. Though the reality is that young people are not acting

as dependents when there is a high rate of unemployment amongst the youth. Even the people that are fully capable of working and have the acquired skills are not being utilised nor employed.
There need to be economy activities for the human resources to work and be productive in. It seemed the report showed indications of not gaining prosperity and wealth by the rapidly growing population. Also, the budgets probably are not distributed evenly from the excess needed for basic services and welfare.