Opinion
What rising bond yields mean for Australia – and the world
Australia has emerging costs from an ageing population, a forecast NDIS blowout, and childcare initiatives. It’s the cost of servicing government debt, though, that deserves new focus.
John AbernethyContributorIn the October budget, Treasurer Jim Chalmers outlined the long-term costs embedded in Australia’s fiscal outlook. Much of those costs were consequences of the COVID-19 pandemic and the government’s massive fiscal response of some $300 billion.
Significant further costs have emerged from the ageing demographic structure of our society, a forecast NDIS blowout, and Labor’s childcare initiatives – all adding to future fiscal deficits and government debt.
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