News Karnataka
Thursday, December 07 2023

Australians live longer, but fiscal sustainability declining: Report

Australians live longer, but fiscal sustainability declining: Report
Photo Credit : IANS

Canberra: Australians are living longer, but housing is taking up more of their income, a government report revealed on Friday.

Earlier in the day, Treasurer Jim Chalmers released the first report from the government’s national wellbeing framework, which tracks progress across 50 indicators ranging from economic to health and the environment, reports Xinhua news agency.

It found that 20 of the measures improved over the last two decades while 12 deteriorated, including productivity, skills development, and the sustainability of government budgets, with others showing little or mixed change.

Over the last two decades, Australians’ life expectancy, job opportunities, incomes, and resource use have improved, as has tolerance of diversity and trust in others.

However, Australians are experiencing higher rates of chronic conditions and, in some instances, are finding it harder to access health, care and support services.

Over recent decades, biological diversity has fallen, fiscal sustainability has declined, and for many Australians, housing is taking up more of their income.

Chalmers said the findings would help inform long-term government policy.

“The government’s primary focus is addressing inflation and laying the foundations for future growth, but it is important that we simultaneously work on better aligning our economic and social goals in our communities and right across the country,” he said in a statement.

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