Expect low interest rates for quite a long while to come!
The proportion of Aussies aged 85 and over will grow rapidly - in 1975, this age group represented less than 1 per cent of the population, or around 80,000 people, but by 2055, it is projected that nearlt 5 percent of the population, or nearly 2 million Aussies, will be aged 85 and over.
In these projections net overseas migration is expected to decline to just 0.5 percent which looks dubiously low to me. Were this to occur, the population would reach 39.7 million by 2055, up from approximately 23.9 million today.
We also learn that:
- · lower immigration would lead to slower economic growth
- · lower immigration would lead to an ageing population
- · lower immigration would lead to lower participation rates (with an adverse consequences the tax take)