1 00:00:01,200 --> 00:00:03,520 Speaker 1: My name is Lily Madden and I'm a proud Arunda 2 00:00:03,760 --> 00:00:08,520 Speaker 1: Bungelung Calcottin woman from Gadighl Country. The Daily oz acknowledges 3 00:00:08,600 --> 00:00:10,760 Speaker 1: that this podcast is recorded on the lands of the 4 00:00:10,800 --> 00:00:14,360 Speaker 1: Gadighl people and pays respect to all Aboriginal and Torres 5 00:00:14,400 --> 00:00:17,279 Speaker 1: Strait Island and nations. We pay our respects to the 6 00:00:17,320 --> 00:00:20,079 Speaker 1: first peoples of these countries, both past and present. 7 00:00:25,760 --> 00:00:28,479 Speaker 2: Good morning and welcome to the Daily os It's Friday, 8 00:00:28,520 --> 00:00:29,680 Speaker 2: the twenty fifth of August. 9 00:00:29,800 --> 00:00:31,800 Speaker 3: I'm Zara Seidler, I'm Nina Copple. 10 00:00:31,920 --> 00:00:35,159 Speaker 2: This is a daily news podcast, which means that, as 11 00:00:35,200 --> 00:00:37,879 Speaker 2: the name would imply, most days we're bringing you an 12 00:00:37,960 --> 00:00:41,760 Speaker 2: update on what is happening in the world right now. 13 00:00:41,800 --> 00:00:44,320 Speaker 2: But today we're going to do something a little bit different. 14 00:00:44,600 --> 00:00:48,599 Speaker 2: And that's because we have what's called an intergenerational Report, 15 00:00:49,120 --> 00:00:52,080 Speaker 2: and that's the government's way of departing from the present 16 00:00:52,159 --> 00:00:54,720 Speaker 2: then now and looking into the future to see what 17 00:00:54,720 --> 00:00:57,880 Speaker 2: it might hold. So in today's deep Dive, we are 18 00:00:58,000 --> 00:01:01,400 Speaker 2: gazing into the government's crystal bok to see what they 19 00:01:01,520 --> 00:01:03,760 Speaker 2: think is the road ahead and how they plan to 20 00:01:03,800 --> 00:01:04,280 Speaker 2: handle it. 21 00:01:04,640 --> 00:01:08,600 Speaker 4: We can own the future, but only if we take 22 00:01:09,000 --> 00:01:11,680 Speaker 4: the big shifts seriously. 23 00:01:11,440 --> 00:01:14,040 Speaker 2: But firstining now, what is making news today. 24 00:01:15,160 --> 00:01:18,679 Speaker 3: Health insurer Medibank says it lost over forty six million 25 00:01:18,720 --> 00:01:22,559 Speaker 3: dollars in the last financial year thanks to cybercrimes. Nine 26 00:01:22,560 --> 00:01:26,520 Speaker 3: point seven million Australians had their personal details leaked when 27 00:01:26,520 --> 00:01:29,760 Speaker 3: Medibank was hit with a major cyber attack in October. 28 00:01:30,560 --> 00:01:33,760 Speaker 3: Despite this, the insurer announced a thirty percent jump in 29 00:01:33,800 --> 00:01:36,920 Speaker 3: profits for the twenty twenty two to twenty three financial 30 00:01:37,000 --> 00:01:39,640 Speaker 3: year of five hundred and eleven million dollars. 31 00:01:41,760 --> 00:01:45,399 Speaker 2: Japan has begun releasing radioactive water into the Pacific Ocean 32 00:01:45,440 --> 00:01:49,560 Speaker 2: from the Fukushima nuclear disaster. The water became radioactive in 33 00:01:49,640 --> 00:01:53,200 Speaker 2: twenty eleven after an earthquake and tsunami. It's since been 34 00:01:53,280 --> 00:01:55,880 Speaker 2: treated and declared safe to pump into the ocean by 35 00:01:55,880 --> 00:01:59,800 Speaker 2: the United Nations as Atomic Safety regulator. The release has 36 00:01:59,840 --> 00:02:03,760 Speaker 2: d on criticism from Japan's neighboring countries, South Korea and China. 37 00:02:05,560 --> 00:02:09,160 Speaker 3: The Republican candidates for the twenty twenty four US presidential 38 00:02:09,200 --> 00:02:12,800 Speaker 3: election have met for their first debate. Donald Trump was 39 00:02:12,840 --> 00:02:16,560 Speaker 3: not there, instead choosing to be interviewed by conservative political 40 00:02:16,560 --> 00:02:20,919 Speaker 3: commentator Tucker Carlson. That interview was broadcast during the debate. 41 00:02:21,360 --> 00:02:24,760 Speaker 3: Mike Pence, who was Trump's vice president, and Florida Governor 42 00:02:24,840 --> 00:02:27,480 Speaker 3: Ron De Santis were among the candidates at the debate. 43 00:02:29,320 --> 00:02:31,680 Speaker 2: And the good news This is a heartwarming video to 44 00:02:31,720 --> 00:02:34,320 Speaker 2: watch if you haven't already seen it, but Australian pole 45 00:02:34,400 --> 00:02:37,720 Speaker 2: volter Nina Kennedy has beaten her own national record to 46 00:02:37,760 --> 00:02:41,840 Speaker 2: win gold in the World Athletics Championships. Kennedy tied with 47 00:02:41,880 --> 00:02:44,920 Speaker 2: American Katie Moon in first place after both clear a 48 00:02:44,919 --> 00:02:47,560 Speaker 2: height of four point nine meters. That is so after 49 00:02:48,320 --> 00:02:50,760 Speaker 2: so high. After two and a half hours of competition, 50 00:02:50,800 --> 00:02:52,919 Speaker 2: the pair agreed not to continue to battle it out 51 00:02:52,919 --> 00:02:55,960 Speaker 2: for first and second. Instead, they both took home gold. 52 00:02:56,360 --> 00:03:03,840 Speaker 2: That's some Friday good news, Nina. I've been around politics 53 00:03:03,880 --> 00:03:05,440 Speaker 2: for a couple of years now, and one of the 54 00:03:05,480 --> 00:03:08,440 Speaker 2: things that I have recognized in that time is that 55 00:03:08,480 --> 00:03:12,960 Speaker 2: it never slows down. You are always hustling, always. 56 00:03:12,639 --> 00:03:14,600 Speaker 3: Mustling, something's always happening. 57 00:03:14,360 --> 00:03:16,799 Speaker 2: Yeah exactly, and you are always kind of looking at 58 00:03:16,919 --> 00:03:18,679 Speaker 2: the next thing and the next thing and the next thing, 59 00:03:18,760 --> 00:03:22,080 Speaker 2: and so very rarely in the political cycle do we 60 00:03:22,080 --> 00:03:25,160 Speaker 2: ever get a chance to really just stop think about 61 00:03:25,160 --> 00:03:27,960 Speaker 2: where we're at and then cast our mind forward into 62 00:03:27,960 --> 00:03:30,919 Speaker 2: the future about you know, what could be in years 63 00:03:30,919 --> 00:03:33,200 Speaker 2: from now. And one of those times has actually come 64 00:03:33,280 --> 00:03:36,680 Speaker 2: up this week with the federal government handing down what's 65 00:03:36,680 --> 00:03:38,600 Speaker 2: called an Intergenerational Report. 66 00:03:38,680 --> 00:03:41,080 Speaker 3: There are a few things that happen pretty regularly in 67 00:03:41,120 --> 00:03:44,040 Speaker 3: the political cycle. We get a budget, we have elections 68 00:03:44,080 --> 00:03:47,640 Speaker 3: every three years, and intergenerational report is not something I've 69 00:03:47,680 --> 00:03:50,160 Speaker 3: come across. So what does it set out to do? 70 00:03:50,240 --> 00:03:51,920 Speaker 3: What types of questions does it ask? Ya? 71 00:03:51,920 --> 00:03:54,240 Speaker 2: I mean, it's a good question. So what it's looking 72 00:03:54,280 --> 00:03:58,000 Speaker 2: at essentially is what will the Australia of the future 73 00:03:58,040 --> 00:04:01,240 Speaker 2: look like? So how old will the population be, will 74 00:04:01,280 --> 00:04:04,440 Speaker 2: that population be growing for example, how healthy will we 75 00:04:04,520 --> 00:04:07,040 Speaker 2: be in the future, what will the pressure points be 76 00:04:07,200 --> 00:04:10,240 Speaker 2: on the economy? And then I think crucially it examines 77 00:04:10,280 --> 00:04:13,280 Speaker 2: what the government needs to be doing now to ensure 78 00:04:13,320 --> 00:04:16,040 Speaker 2: that there's a sustainable future for the country. I think 79 00:04:16,080 --> 00:04:18,200 Speaker 2: that's the big thing that if we're talking about what 80 00:04:18,240 --> 00:04:20,760 Speaker 2: the future looks like and there is a current government 81 00:04:20,839 --> 00:04:24,200 Speaker 2: in power, it's thinking about how can they do things 82 00:04:24,240 --> 00:04:28,240 Speaker 2: today to make it better exactly. So Treasurer Jim Chalmers 83 00:04:28,440 --> 00:04:30,839 Speaker 2: has been very keen this week to emphasize that the 84 00:04:30,839 --> 00:04:33,800 Speaker 2: future laid out in the report is not set in stone. 85 00:04:33,960 --> 00:04:38,320 Speaker 4: The projections made here aren't predetermined. There's a level of confidence, 86 00:04:38,480 --> 00:04:42,120 Speaker 4: but not certainty about how the coming decades play out 87 00:04:42,120 --> 00:04:42,520 Speaker 4: for us. 88 00:04:42,640 --> 00:04:44,960 Speaker 2: But he said that the reason the report exists is 89 00:04:45,000 --> 00:04:48,040 Speaker 2: to make sure that the country is as prepared as possible. 90 00:04:48,080 --> 00:04:50,600 Speaker 2: I guess for what the future is likely to hold, and. 91 00:04:50,560 --> 00:04:53,760 Speaker 3: So now that we have this report, what does Australia's 92 00:04:53,839 --> 00:04:55,120 Speaker 3: future population look like? 93 00:04:55,320 --> 00:04:59,920 Speaker 2: So Aussies are projected to live longer and healthier lives. 94 00:05:00,000 --> 00:05:03,400 Speaker 2: Infectioncies expected to reach eighty seven years for men and 95 00:05:03,600 --> 00:05:05,880 Speaker 2: eighty nine and a half years for women by twenty 96 00:05:05,920 --> 00:05:09,839 Speaker 2: sixty three. The report does, however, acknowledge that some groups, 97 00:05:09,880 --> 00:05:15,440 Speaker 2: including First Nations people in Australia, experience significantly lower life expectancy. 98 00:05:16,160 --> 00:05:18,920 Speaker 2: So as the government is looking at this, they're seeing 99 00:05:18,960 --> 00:05:23,040 Speaker 2: that as our lives lengthen our population is also unsurprisingly 100 00:05:23,520 --> 00:05:27,000 Speaker 2: going to age. So the number of Ossie's age sixty 101 00:05:27,040 --> 00:05:30,080 Speaker 2: five and over is actually expected to double, and those 102 00:05:30,160 --> 00:05:33,200 Speaker 2: aged eighty five and over is expected to triple by 103 00:05:33,240 --> 00:05:38,080 Speaker 2: twenty sixty three. Australians are also expected to have fewer 104 00:05:38,200 --> 00:05:42,640 Speaker 2: children and rather than migration filling that gap in the population. 105 00:05:42,760 --> 00:05:46,160 Speaker 2: It's actually projected that migration will account for a smaller 106 00:05:46,200 --> 00:05:50,080 Speaker 2: portion of population growth than it does today. So overall, 107 00:05:50,120 --> 00:05:53,599 Speaker 2: what that tells us ultimately is that population growth is 108 00:05:53,640 --> 00:05:57,159 Speaker 2: actually expected to be at its slowest rate since federation 109 00:05:57,400 --> 00:06:00,080 Speaker 2: in nineteen oh one, which is a pretty big headline. 110 00:06:00,200 --> 00:06:02,760 Speaker 3: I think what comes to mind for me is if 111 00:06:02,800 --> 00:06:06,719 Speaker 3: the population is getting older, but we're healthier as we're aging, 112 00:06:07,160 --> 00:06:09,560 Speaker 3: why does it matter if the population might not be 113 00:06:09,640 --> 00:06:10,640 Speaker 3: growing at the same rate. 114 00:06:11,000 --> 00:06:12,560 Speaker 2: I mean, I think it's a bit of a double 115 00:06:12,640 --> 00:06:14,919 Speaker 2: edged sword. I think that on the one hand, of course, 116 00:06:15,000 --> 00:06:18,279 Speaker 2: having people we love live longer is you know, of 117 00:06:18,360 --> 00:06:19,720 Speaker 2: course a very good thing. 118 00:06:19,920 --> 00:06:22,760 Speaker 3: But forty years old people will be usome somehow. 119 00:06:22,680 --> 00:06:25,520 Speaker 2: Exactly us we will be living longer. But on the 120 00:06:25,560 --> 00:06:29,320 Speaker 2: other side of that comes the responsibility that sits alongside 121 00:06:29,400 --> 00:06:34,280 Speaker 2: an aging population. So when people get older, money in 122 00:06:34,320 --> 00:06:37,280 Speaker 2: the economy needs to be spent on caring for those people, 123 00:06:37,640 --> 00:06:40,479 Speaker 2: and those same people who are aging are not the 124 00:06:40,520 --> 00:06:43,039 Speaker 2: ones who are contributing to that economy. So what it 125 00:06:43,120 --> 00:06:45,440 Speaker 2: ends up with is a lot of the government's investment 126 00:06:45,560 --> 00:06:49,600 Speaker 2: going to aged care services and care services more generally, 127 00:06:50,000 --> 00:06:53,039 Speaker 2: and not a lot of revenue being generated within the 128 00:06:53,120 --> 00:06:56,680 Speaker 2: economy itself. And so what we've found in this report 129 00:06:56,760 --> 00:06:59,440 Speaker 2: is that aging is actually estimated to account for around 130 00:06:59,520 --> 00:07:02,800 Speaker 2: forty percent of the increasing government spending over the next 131 00:07:02,839 --> 00:07:04,680 Speaker 2: forty years, which is pretty substantial. 132 00:07:05,000 --> 00:07:07,559 Speaker 3: So a part of this report is the government looking 133 00:07:07,600 --> 00:07:11,040 Speaker 3: at how they can grow our population in a sustainable way, 134 00:07:11,120 --> 00:07:13,880 Speaker 3: make sure that there's enough people to fund the things 135 00:07:13,880 --> 00:07:17,320 Speaker 3: we need to care for that aaging population. Is there 136 00:07:17,360 --> 00:07:21,400 Speaker 3: anything in this report though, that looks at how while 137 00:07:21,440 --> 00:07:25,040 Speaker 3: we grow our population sustainably, we also look after our 138 00:07:25,160 --> 00:07:26,760 Speaker 3: environment in a sustainable way. 139 00:07:26,800 --> 00:07:31,000 Speaker 2: I like the segue use for the word sustainability. Well, 140 00:07:31,040 --> 00:07:33,560 Speaker 2: one of the things that the report does do is 141 00:07:33,680 --> 00:07:36,840 Speaker 2: provide a bit of insight into what our climate is 142 00:07:37,080 --> 00:07:39,960 Speaker 2: likely to look like over the next couple of decades. 143 00:07:40,000 --> 00:07:42,800 Speaker 2: And what it predicts is not something that we haven't 144 00:07:42,800 --> 00:07:45,840 Speaker 2: heard before. I think that every report that looks into 145 00:07:45,880 --> 00:07:49,520 Speaker 2: our future paints the same picture. It's pretty bleak, it's 146 00:07:49,560 --> 00:07:53,080 Speaker 2: not great. This specific report says that over the next 147 00:07:53,120 --> 00:07:56,280 Speaker 2: forty years, Australia's temperatures could rise by as much as 148 00:07:56,320 --> 00:07:59,800 Speaker 2: one point eight degrees, though it does emphasize that different 149 00:07:59,800 --> 00:08:04,360 Speaker 2: parts of the country will experience different increases, and of course, 150 00:08:04,440 --> 00:08:07,840 Speaker 2: aside from the environmental impacts and the possible climate that 151 00:08:07,880 --> 00:08:10,520 Speaker 2: we might be inheriting, the other thing that the report 152 00:08:10,600 --> 00:08:14,960 Speaker 2: says that an increase in temperature could reduce economic output 153 00:08:15,040 --> 00:08:17,920 Speaker 2: by as much as four hundred and twenty three billion dollars. 154 00:08:18,160 --> 00:08:21,720 Speaker 2: So the government's looking at that and seeing a really 155 00:08:21,760 --> 00:08:24,920 Speaker 2: significant economic burden that comes with climate change. 156 00:08:25,160 --> 00:08:28,880 Speaker 3: That sounds like pretty bad news. But this report, what 157 00:08:28,960 --> 00:08:32,000 Speaker 3: it's doing, isn't telling us what's predetermined, right, This is 158 00:08:32,080 --> 00:08:35,240 Speaker 3: just a possibility if we follow the path that we're on. 159 00:08:35,440 --> 00:08:38,760 Speaker 3: So what's the government doing to try and change that 160 00:08:38,920 --> 00:08:39,400 Speaker 3: end result? 161 00:08:39,679 --> 00:08:42,920 Speaker 2: Let's start with climate. The government says this is already 162 00:08:43,000 --> 00:08:46,160 Speaker 2: on their agenda, and we know this. We've spoken at 163 00:08:46,240 --> 00:08:49,360 Speaker 2: length about what the government is trying to do with 164 00:08:49,480 --> 00:08:52,719 Speaker 2: climate change in this country. We know that they've legislated 165 00:08:52,800 --> 00:08:55,959 Speaker 2: a climate target, but on the other hand, we also 166 00:08:56,000 --> 00:08:59,000 Speaker 2: know that they've continued to approve new colon gas mines 167 00:08:59,400 --> 00:09:04,880 Speaker 2: against recommendations from organizations like the IPCC. So in the 168 00:09:04,880 --> 00:09:07,680 Speaker 2: wake of this report, the government's really been pointing to 169 00:09:07,960 --> 00:09:11,079 Speaker 2: their climate credentials and trying to highlight the investment that 170 00:09:11,120 --> 00:09:14,440 Speaker 2: they're making in renewable and clean energy, but whether or 171 00:09:14,480 --> 00:09:18,080 Speaker 2: not enough is being done to mitigate the future that 172 00:09:18,160 --> 00:09:20,640 Speaker 2: is set out in the report remains to be seen. 173 00:09:21,240 --> 00:09:24,160 Speaker 3: And what about that aging population you were talking about before. 174 00:09:24,320 --> 00:09:27,600 Speaker 2: So the government and specifically Jim Chalmers, who's the one 175 00:09:27,600 --> 00:09:30,360 Speaker 2: that's been talking about this report a lot in the media, 176 00:09:30,920 --> 00:09:33,840 Speaker 2: has been very keen to focus on the potential for 177 00:09:33,920 --> 00:09:37,280 Speaker 2: growth in what we call the care economy, so things 178 00:09:37,320 --> 00:09:40,640 Speaker 2: like investing in nurses and the aged care sector to 179 00:09:40,720 --> 00:09:44,480 Speaker 2: better care for that aging population. And the government says 180 00:09:44,520 --> 00:09:48,040 Speaker 2: they're investing in skills and training and free tafe courses 181 00:09:48,080 --> 00:09:52,600 Speaker 2: to try and tackle skills shortages today to then prepare 182 00:09:52,679 --> 00:09:53,600 Speaker 2: for the future. 183 00:09:53,920 --> 00:09:57,080 Speaker 3: At the end of the day, this Intergenerational Report is 184 00:09:57,120 --> 00:10:00,199 Speaker 3: the government's vision of the future. It's their projections, it's 185 00:10:00,240 --> 00:10:03,840 Speaker 3: their report. Have we heard from the Coalition about their 186 00:10:03,880 --> 00:10:05,880 Speaker 3: interpretation of this report. 187 00:10:06,080 --> 00:10:09,040 Speaker 2: Yeah. I think that's an important point to highlight because 188 00:10:09,400 --> 00:10:11,760 Speaker 2: when handing down a report like this, it also gives 189 00:10:11,800 --> 00:10:15,240 Speaker 2: the government just a lot of airtime to talk about 190 00:10:15,280 --> 00:10:17,920 Speaker 2: all of their policies. So I think it's important to 191 00:10:17,960 --> 00:10:20,640 Speaker 2: focus on what the coalition has said here. We did 192 00:10:20,679 --> 00:10:24,720 Speaker 2: hear from Shadow Treasurer Angus Taylor yesterday and his big 193 00:10:24,760 --> 00:10:27,760 Speaker 2: speaking point was that in the context of a cost 194 00:10:27,800 --> 00:10:31,480 Speaker 2: of living crisis, the Coalition believes that the government should 195 00:10:31,480 --> 00:10:34,400 Speaker 2: be focusing on the present and not on the future. 196 00:10:34,880 --> 00:10:38,559 Speaker 5: And we have enormous challenges bearing down on Australian households, 197 00:10:38,600 --> 00:10:42,320 Speaker 5: Australian small businesses right now. We need a government that 198 00:10:42,360 --> 00:10:45,320 Speaker 5: gets the balance right and does have enough focus on 199 00:10:45,360 --> 00:10:47,840 Speaker 5: those crisis issues we're seeing in the cost of living, 200 00:10:48,520 --> 00:10:50,720 Speaker 5: which are just absolutely extraordinary. 201 00:10:50,920 --> 00:10:53,280 Speaker 2: In response to that, the government's being keen to point 202 00:10:53,360 --> 00:10:55,920 Speaker 2: out that the cost of living is a priority, but 203 00:10:56,000 --> 00:10:57,959 Speaker 2: that the government should also be able to focus on 204 00:10:58,000 --> 00:11:00,400 Speaker 2: the future and that the two are not mutually excps inclusive. 205 00:11:00,720 --> 00:11:02,680 Speaker 3: Well, I think that the only way we're going to 206 00:11:02,720 --> 00:11:04,959 Speaker 3: know how accurate this report is AARA is to just 207 00:11:05,160 --> 00:11:08,240 Speaker 3: check back and Long and Healthy Life and track back 208 00:11:08,240 --> 00:11:10,080 Speaker 3: in in forty years and see how they did. 209 00:11:10,200 --> 00:11:12,640 Speaker 2: Check back in in forty years and hear our review. 210 00:11:12,679 --> 00:11:15,960 Speaker 3: Then thanks for joining us on the Daily Ours. If 211 00:11:16,000 --> 00:11:18,920 Speaker 3: you learned something from today's episode, share it with a friend, 212 00:11:19,080 --> 00:11:22,000 Speaker 3: give us a review. Wherever you're listening, and there's always 213 00:11:22,040 --> 00:11:24,520 Speaker 3: there's a question box on Spotify you can let us 214 00:11:24,559 --> 00:11:26,840 Speaker 3: know what you thought and if you have any ideas 215 00:11:26,840 --> 00:11:29,280 Speaker 3: for what we can do for future episodes. Sam and 216 00:11:29,360 --> 00:11:31,920 Speaker 3: Zara will be back again on Monday. Until then, have 217 00:11:32,000 --> 00:11:35,079 Speaker 3: an excellent weekend.