The Australian government has released its seventh Intergenerational Report (IGR), a long-term analysis projecting the nation’s demographic and economic trajectory over the next four decades. The report indicates a significant demographic shift, forecasting that by 2063, the number of deaths in Australia will surpass the number of births. This transition is expected to place pressure on the national economy as the population ages.

Treasurer Jim Chalmers, speaking at the Australian National University, emphasized that the country is entering a period of lower economic growth and rapid technological change. A central theme of the report is the role of artificial intelligence, which the government identifies as a primary force that will reshape both the labor market and broader societal structures. The report serves as a foundational document for policy planning, intended to help the government navigate the fiscal implications of a shrinking workforce and increased demand for aged care and health services. While the report focuses on the inevitability of these demographic trends, it also suggests that adaptation to new technologies like AI will be critical in maintaining economic stability during this period of transition.