Recent figures suggest that the more than 2.5 million Australian carers contribute over $30 billion to the Australian economy.
That’s $30 billion that the Australian taxpayer doesn’t have to find every year to support those unable to support themselves. But this is going to change.
It has to change because our carers are getting older and too few new carers are replacing the many who can no longer care for others due to age or infirmity.
The demographics of ageing carers and the extended lifespans of those with a disability mean that Australia has a carers crisis. It is a crisis that will become more evident over the next few decades. How we handle it will have a major impact on our national prosperity.
Let me explain.
To do nothing is not an option. While we will have fewer carers in coming years we simply cannot leave those who need care to fend for themselves. Someone or something will have to provide the care. This is most likely going to fall to government.
There are a multitude of options available but the financial cost to provide this care is likely to be enormous.
One thing we can be sure of though is that the problem won’t go away. We will have to confront a growing crisis and it is better to make a start now rather than leave it for another decade or so.
Cory Bernardi is the author of seven books and has been a member of the Australian rowing team, a publican, an investment portfolio manager and spent nearly 14 years as an Australian Senator.
