A smaller Australia but a more dependent one: 2021 Intergenerational Report

Australia is going to be smaller, and the population will age more rapidly - that is the snapshot from the Federal Treasury. The intergenerational report is released roughly every five years, and it's intended to guide government spending over decades.

Australian treasurer Josh Frydenberg holds a copy of the 2021 Intergenerational Report in Melbourne on June 28, 2021. Source: Getty Images