Australia’s welfare “problem” is really the Aged Pension

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By Leith van Onselen

Yesterday, Social Services Minister, Christian Porter, fronted the National Press Club where he handed down a PWC report warning that without further action, the annual $160 million welfare bill could spiral out of control to a massive $4.8 trillion:

“The situation where you have just on half and potentially more households drawing from the system than contributing to it is, again in my observation, like a snake eating its own tail”…

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.