Defusing the debt timebomb: lessons from Australia
20 October 2014
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17 October 2014
Economic Theory
Economic Theory
11 November 2024
The Honourable Joe Hockey, Treasurer of the Commonwealth of Australia, sat down with ieaTV to discuss how the Australian government has managed to address the long-term fiscal challenges presented by welfare dependency and an ageing population.
Key policies have included tackling the culture of entitlement through greater conditionality in the award of welfare benefits, incentivising private pension provision to ensure a higher proportion of old-age income is funded from savings, and raising the eligibility age for state pensions. Australia’s government debt-to-GDP ratio is one of the lowest in the developed world.
Key policies have included tackling the culture of entitlement through greater conditionality in the award of welfare benefits, incentivising private pension provision to ensure a higher proportion of old-age income is funded from savings, and raising the eligibility age for state pensions. Australia’s government debt-to-GDP ratio is one of the lowest in the developed world.
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CONCLUSION :- ” Downward trend in world economy is likely to be in mild form during
November, 2014 to April, 2015, to grow somewhat intense during May, 2015
to October, 2015, becomes harsh during November, 2015 to July, 2016.
Such areas of life as minerals and metals, foodcrops, energy resources , defence and security of nations are likely to bear the brunt of these trends.
Collective wisdom in decision making, communication systems, aviation industry, and the cinema , music and TV industries are also , in addition, likely to be touched by these trends.
Countries or regions whose names begin with the letters B , E , EU, N, O, P, U or V may need to implement multilevel approach to challenges during this period”.
This is the substance or salient feature of my article – ” Stressful times ahead for world economy in 2015 and 2016″- published online on June 2, this year at Astrologyweekly.