Oz Blog News Commentary

Articles from Peter Martin

When COVID is behind us, we're going to have to pay more tax

July 21, 2021 - 16:20 -- Admin

The biggest unstated message from the intergenerational report released during the lull between lockdowns is that we will need more tax.

Not now. At the moment it’s a matter of throwing everything we’ve got at getting on top of the COVID outbreaks and worrying about how to (and the extent to which we will need to) pay for it later.

The intergenerational horizon that recedes each time we approach it

July 3, 2021 - 14:53 -- Admin

On Monday, Treasurer Josh Frydenberg homed in on the real problem identified by his government’s intergenerational report – about the only real problem expounded on in the report.

It’s that by 2061 we will have far fewer people of working age for each person of traditional retirement age. Right now, Frydenberg explained, we have four people of working age for each Australian aged over 65.

Forty years ago we had 6.6. But in 40 years’ time, we will have just 2.7.