The Development Of Australia And Japan

1488 Words6 Pages
Australia and Japan are very different countries, in food, culture, location, population and many other aspects. But one of the things that brings these two very different countries together is the issue of an ageing population. It is estimated that, with a rapidly increasing elderly population, Japan is well on its way to lose about half its workforce by 2060, which would weaken its status as an economic superpower and weaken its economy to the point of ruin. Australia is also facing a similar ageing population crisis. Although in the past Australia was considered a rather young country, its ageing population has increased dramatically over the past few decades, which will put stress on the economy as well as taxpayers who fund retirement…show more content…
If implemented, it will help rescue Australia’s federal budget from ruin, according to a new study by the Property Council of Australia. A recent report investigating the population of seniors reports that there are 184 000 Australian senior citizens currently living in retirement villages, and that number will double by 2025. This already saves the budget $2.16 billion by delaying seniors’ need for entry into aged care, and reduces public health care expenditure, reducing the stress for taxpayers who fund the elderly. By removing the obstacles for pensioners who want to downsize from their current homes by aged pension reforms, it would save the government $86 million per annum if those people instead choose to go to a retirement community. By allowing older Australians to be able to sell their current home and to be able to choose their preferred type of living conditions and location, such as moving to a retirement village, it allows them to be more flexible with their lives and be more self-sufficient. Not only will this easily-implemented policy ease the pressure on the federal budget and the workforce, it will also benefit Australia’s property market, where older Australians who want to downsize from their current home can sell their large, family homes to those who really need them, such as young families and first home buyers. This policy is a win-win for all sides, and it will mean that
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