Policy makers and economists are concerned that the retirement of the Baby Boomer generation and an ageing population could see the nation’s workforce heavily diminished in the future.
For example, Federal Treasurer Jim Chalmers warned in January 2023, just as immigration was ramping to record levels, that longer life expectancy and a sharp decline in Australia’s fertility rate meant that Australians would pay higher taxes to fund government services and the aged care sector.
Among other things, Chalmers touted changes to Australia’s immigration system to address population ageing:
