Health, aged care, NDIS, defence and interest payments will grow from one-third of government spending over next four decades
Despite political pressure to announce more cost-of-living relief, the Albanese government is keen to bank as much of the surplus as possible.
Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup The report explained that “demographic ageing alone is estimated to account for around 40% of the increase in government spending over the next 40 years”. Income support payments and education “are expected to grow in real per capita terms, but decline as a share of GDP as the population ages”, the report said.
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