Are You Rich?
For most of history most people have counted their wealth in – children – not in money or goods. For myself, I have no children of my own (save for my step-children, who were adults when I married their mother) and I feel the lack.
Yet in Australia there are those who reflexively think otherwise.
FORGET those plans to have a third child for the country because further increases in the birth rate could harm the economy, the nation’s productivity watchdog has warned.
The small number of extra babies born would make little difference to the rate of population ageing, the commission said.
And the women having the babies would be exacerbating the financial impacts on the government of the ageing of the population because the tax breaks offered to parents to have children occur up front, while the cost savings of a bigger working population and bigger tax base from extra children are deferred until they are of working age.
The better news is that the Australians themselves are pretty much ignoring their government’s “Productivity Commission”.
More than 285,000 births were registered last year, the highest level in 25 years.
The commission said this was mainly a catch-up effect as women deferred childbirth to later in life.
“Having reached older ages, they are now having these postponed babies,” it said.