Population ageing

We still have a population that ultimately exists.

is aging in a recent piece you put out you talk around as a country we need to start planning for for that aging population we can't just sort of sit back and let it happen we need to be smart about it

Yeah, absolutely, Simon.

That's correct.

Yeah, yeah.

Governments, municipalities, we can see where they fit in.

But does business have a role here as well where they can assist as we get an aging population, a population living longer?

Yeah, so I think the senior living sector in South Africa is definitely growing in response to demand, in response to the aging population, as it is everywhere in the world.

We've been talking about the forecast for out to 28, 29, 30, but there's the bigger issue which is looming over the horizon that you're also talking about.

Treasury is repeatedly raising flags about this, the ageing population.

If we carry on with the way we're going and the level of superannuation we're paying at the moment with no changes, can you help us understand what that actually would mean?

So we're going through just the big picture context is there are two things happening.

Adult diapers are outselling baby diapers in Japan.

What? Indicating a significant demographic shift with birth rates at an all-time low and a rapidly aging population, one of the nation's largest diaper manufacturers is shifting its business model to meet changing demands.

Oh,

you're kidding.

And if I could just add one tiny little bit of detail to that one, Sean, the other thing that I thought was interesting was the intergenerational report has such a big focus on AI and the fact that that's going to be what will lift productivity and transform the economy.

But when you read the report, you actually see that with this aging population and with the population at the level it's going to be in 2066, we're actually going to need a lot of people who can do stuff, actually do stuff.

Your aged care workers, your nurses, your construction workers, your electricians, all of your tradies.

especially with an aging population, we actually need human people to do these human jobs.

And it feels like maybe that is getting a little bit overlooked in the extreme focus on AI as being the answer to everything, which I just thought was an interesting point that came out of the report this week.

Totally agree, Michael.

Now, the representative body for nursing homes in Ireland has said, we're running out of time to prepare for an ageing population and what it'll take to care for them.

By the end of this decade, they say over a million people will be aged over 65.

And Ireland is, in their words, sleepwalking into one of the biggest social and healthcare problems in its history.

This isn't just the responsibility on government or the responsibility on nursing homes.

It's a responsibility across all of society.

to discuss what we're going to do in the next number of years to meet the care needs of our ageing population.

Okay, now you don't speak for home care providers and you don't speak for government, and we will be hearing from a representative from a government party in just a moment.

You do speak for nursing home owners, but I'm just looking at the demographics and the resultant investment from private funds And I think there's a piece of research done by Dr. Nicholas O'Neill in UCD saying just, this is written in June last year, saying just 10 investment funds hold one third of all nursing home beds in the state.

The intergenerational report makes clear the demographic shift is already underway.

But the question now is how governments respond as fewer birds and ageing population and rising costs reshape Australia's economic outlook.

Helena Krishnamoorthy, SBS News.

Grainger knows if you're a procurement manager at an industrial manufacturing facility, you're balancing inventory and budget while sourcing critical supplies across the operation.

The latest intergenerational report released by Treasurer Jim Chalmers sets out life in 2065.

It's an older Australia with a third of all new healthcare spending supporting the country's ageing population.

The number of Australians over 85 will triple.

by the mid-60s, putting further demand on health services.