The 2023 Intergenerational Report projects the outlook of the economy and the Australian Government’s budget to 2062-63.

The report considers 5 major forces affecting the coming decades:

  • population ageing
  • technological and digital transformation
  • climate change and the net zero transformation
  • rising demand for care and support services
  • geopolitical risk and fragmentation.

The analysis and projections of these drivers will help inform and improve public policy settings to better position Australia for the next 40 years

Projecting the impacts of climate change, the government anticipates hotter temperatures – based on data from the Bureau of Meteorology.

Climate change will affect where and how Australians live, work and travel.

Higher temperatures are predicted to impact not just our health and the environment but labour productivity, as workers in exposed industries will need to reduce their time in the heat or the physical intensity of their work.

Weather changes are also projected to result in lower crop yields and higher government spending on natural disaster recovery and resilience efforts.

The report says the answer will be to invest in adaptation measures.

Read the report