Open the gate.. welcome to this dimension..
Oh please.. governments, corporates, economists, and the financial sector cannot accurately forecast what's going to happen next year, let alone 40 years hence.. (as suggested in this article via the Guardian which is claiming that aged care costs will 'double' in the next 40 years..)
The other rule of thumb - 'follow the money' - leads to showing sponsorship for this 'UTS research collaborative' is by companies who have vested interests in residential and health care businesses in the aged care sector. (Ryman Healthcare, Lendlease, Super funds [Aware Super], Telstra Health, Lawyers [HBL Ebsworth], Uniting [aged care provider]).
So I'm afraid that lifts my skepticism up a couple more notches too.
And now to the 'blind freddy' and 'bleeding bloody obvious' tests..
Australia's demographics have consistently been forecast to have an increasing aged population (65+) ever since the second world war (everybody knows about the post WWII 'baby boom'). Statistics have proved these forecasts to be inline with reality. Australia also keeps 'importing' even more people who will, surprise surprise, also age (and become pensioners and require healthcare and aged care facilities).
So, 'blind freddy' could have told you we will have a significantly increased aged population versus taxpaying population in the future..
And thus it's 'bleedingly bloody obvious' that if your aged population significantly increases then your pension, healthcare, and aged care facilities costs will, likewise, be bloody mahoosive in the future! 😃
buggered if I know 😛
Cost of Australiaâs aged care system to taxpayers could double, experts warn