Australia is facing a shortage of 280,000 babies by 2024 due to the coronavirus recession and unrealistic pre-pandemic forecasts of a birth surge.
The federal budget will be announced by Treasurer Josh Frydenberg on October 6th and is expected to show a deficit in excess of $200 billion.
Since Australia’s last recession in the 1990’s, we have always relied on strong population growth to support the economy. With the nation predicted to welcome 56,000 fewer babies per year, a permanent hole in the budget is threatening to emerge.
In this episode, national editor Tory Maguire is joined by senior economics correspondent Shane Wright to dissect how the baby deficit will impact the economy.