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oapen-20.500.12657-638862023-07-13T02:46:53Z More Than Fiscal Hall, Jane Podger, Andrew Woods, Mike Intergenerational report sustainability wellbeing ageing population productivity Inequality bic Book Industry Communication::J Society & social sciences::JF Society & culture: general::JFS Social groups::JFSJ Gender studies, gender groups bic Book Industry Communication::K Economics, finance, business & management::KC Economics::KCP Political economy bic Book Industry Communication::K Economics, finance, business & management::KF Finance & accounting::KFF Finance::KFFD Public finance Every five years, the Australian treasurer is required to publish an intergenerational report (IGR), which examines the long-term sustainability of current government policies and seeks to determine how demographic, technological and other structural trends might affect the economy and the budget in coming decades. Despite these lofty objectives, the five IGRs produced from 2002 have received only muted applause. Critics say that they are too mechanical, too narrow and too subject to the views of the government of the day and that they don't provide the intended wake-up call for public understanding of looming economic, social and environmental issues. This analysis of the most recent IGR (2021) is based on a workshop hosted by the Academy of the Social Sciences in Australia. While finding that the 2021 IGR is an improvement on the previous report (2015), the authors identify several fiscal and broader policy issues that deserve greater attention, including Australia’s structural deficit, rising inequality and the impacts of climate change. They argue that the report fails to discuss the policies required to support greater resilience against future shocks, including the case for earlier budget repair. They propose that future IGRs be prepared with greater independence, cover all levels of government, have more transparent analysis and draw upon a wider 'wellbeing’ approach to long-term sustainability. This book aims to attract close attention from public officials and politicians and generate constructive debate in the community. 2023-07-12T14:24:55Z 2023-07-12T14:24:55Z 2023 book ONIX_20230712_9781760465780_7 9781760465780 9781760465773 https://library.oapen.org/handle/20.500.12657/63886 eng application/pdf Attribution-NonCommercial-NoDerivatives 4.0 International book.pdf ANU Press ANU Press 10.22459/MF.2023 10.22459/MF.2023 ddc8cc3f-dd57-40ef-b8d5-06f839686b71 9781760465780 9781760465773 ANU Press 222 Canberra open access
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Every five years, the Australian treasurer is required to publish an intergenerational report (IGR), which examines the long-term sustainability of current government policies and seeks to determine how demographic, technological and other structural trends might affect the economy and the budget in coming decades. Despite these lofty objectives, the five IGRs produced from 2002 have received only muted applause. Critics say that they are too mechanical, too narrow and too subject to the views of the government of the day and that they don't provide the intended wake-up call for public understanding of looming economic, social and environmental issues. This analysis of the most recent IGR (2021) is based on a workshop hosted by the Academy of the Social Sciences in Australia. While finding that the 2021 IGR is an improvement on the previous report (2015), the authors identify several fiscal and broader policy issues that deserve greater attention, including Australia’s structural deficit, rising inequality and the impacts of climate change. They argue that the report fails to discuss the policies required to support greater resilience against future shocks, including the case for earlier budget repair. They propose that future IGRs be prepared with greater independence, cover all levels of government, have more transparent analysis and draw upon a wider 'wellbeing’ approach to long-term sustainability. This book aims to attract close attention from public officials and politicians and generate constructive debate in the community.
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