The Fin Do we really need to bring back the baby bonus?
Aug 13, 2025
Myriam Robin, a senior writer at The Australian Financial Review, dives into the pressing issue of declining fertility rates in Australia. She discusses the potential economic consequences, like labor shortages, and the societal challenges they pose. Robin examines the reluctance of politicians to tackle this topic and explores the controversial idea of reinstating baby bonuses. The conversation touches on historical perspectives on population growth and innovative policy responses that could encourage higher birth rates for a sustainable future.
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Faster-Than-Expected Global Decline
- Fertility has fallen faster than projections, with many countries well below replacement levels.
- Demographers now project global population may peak ~2050s then decline, creating unprecedented challenges.
Aging Cuts Growth And Raises Care Costs
- Fewer births shift populations older, raising care costs and reducing productive workers.
- That combination threatens labour supply, productivity and medium-term economic growth.
Why People Are Having Fewer Babies
- Key drivers of falling fertility include better contraception, child survival and economic pressures like housing and delayed careers.
- Those global forces push people to postpone or forgo children during peak childbearing years.