Treasurer Josh Frydenberg has penned an op-ed in the AFR championing the “three P’s” of 1) boosting productivity; 2) raising workforce participation; and 3) increasing the population via immigration, to see off the nation’s ageing population:
As a nation, we need to effectively leverage the three P’s – population, participation and productivity – to meet this challenge.
When it comes to workforce participation, we are at record highs and the participation rate for those aged 65 and over has increased from 12.3 per cent to 14.6 per cent over the past five years.
