The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of Peter Costello

Peter Costello


11 March 1996 - 3 December 2007

Media Release of 27/03/2007



The Treasurer will release Australia’s second Intergenerational Report – IGR2 – on 2 April 2007 at the National Press Club, Canberra.

The first Intergenerational Report – IGR1 – was released as part of the 2002-03 Budget and delivered on a Government commitment under the Charter of Budget Honesty Act 1998 to examine the long‑term sustainability of government policies at least every 5 years.  This was a huge step forward in improving transparency of government and increasing our ability to plan for the future.

It also set out clearly for the first time the challenges Australia faces as our population ages.  The ageing of the population is inevitable and irreversible, as it is the result of lower birth rates in the 1970s.  It is vital that we fully understand the consequences of this fundamental shift.

It will also highlight just how important the task of managing our economy well so we can meet the challenges of the future.

The updated projections in IGR2 will give us the information we need to continue to prepare for demographic change.  It will also allow us to reflect on our ongoing program of policy reform and facilitate further public debate.

27 March 2007

David Gazard - 02 6277 7340