Errata
A number of minor errors have been detected in the report since it was printed. These principally relate to the treatment of future education costs. The errors have been corrected in the PDF and RTF files on this website, but remain in the printed copies. They make no qualitative difference to the conclusions reached.
Overview
•	On page xxxvii, in the first paragraph, the figure $4150 billion should be $4200 billion.
•	Also on page xxxvii, in the first dot point, spending pressure on the States should ‘treble’ not ‘quadruple’.
Chapter 3
•	Figure 3.16 p. 78, males are the bold lines, females the thinner lines.
Chapter 9
•	Table 9.2 on page 211: for 2044-45, the TAS figure should be 71.4 not 61.6, the Northern Territory figure should be 72.6 not 69.0 and the Australia figure should be 63.3 not 63.2. In the first paragraph, 69 per cent should be 73 per cent.

•	Table 9.5 Changes as marked
Table 9.5	Projected government education funding as a share of GDP
By level of government and education sector 
	2002-03		2044-45	
	States and Territories	Aust. Govt.	Total		States and Territories.	Aust.Govt.	Total	
	%	%	%		%	%	%	
Schools	2.60	0.78	3.38		2.24	0.76	2.99	
Government	2.41	0.28	2.69		2.03	0.24	2.27	
Non-government	0.20	0.50	0.69		0.21	0.52	0.73	
VET	0.35	0.16	0.52		0.36 0.37	0.16 0.17	0.52 0.54	
University	0.03	0.74	0.77		0.03	0.87	0.90	
HECS repayments	-	-0.11	-0.11		-	-0.17	-0.17	
Income assistance	-	0.26	0.26		-	0.12	0.12	
Other education	0.30	0.09	0.38		0.27 0.26	0.08	0.34	
Total	3.28	1.92	5.20		2.89 2.90	1.81 1.83	4.69 4.73	

•	On page 220, first paragraph, 0.39 percentage points should be 0.38 percentage points and 0.01 percentage points should be 0.02 percentage points.
•	On page 220, last paragraph the figure $24 billion should be $23 billion and 20 per cent should be 19 per cent.
•	Figure 9.7 (on page 221) the base year in the legend should read 2002-03. The figures are slightly amended but this cannot be detected in the appearance of the chart.

The corrected Table 9.6 on page 221 is as follows:
Table 9.6	Impact of population ageing on government education expenditures in 2044‑45
Sector	Expenditure with projected ageing	Expenditure if there were no ageing	Reduction due to ageing	
	$ billion	$ billion	%	
Schools	61 475	77 762    77 000	20.9   20.2	
Government	46 540	58 886    58 294	21.0   20.2	
Non-government	14 935	18 876    17 706	20.9   20.2	
VET	10 624   11 069	13 380    13 211	20.6   16.2	
University	18 344   18 394	22 113    22 272	17.0   17.4	
HECS repayments	-3553     -3404	-4 237     -4078	16.1   16.5	
Student assistance	2480      2515	3065      3062	19.1   17.9	
Other	7025      6975	8525      8525	17.6   18.2	
Total	96 394   97 024	120 608   119 991	20.1   19.1	

Chapter 13
•	On page 308, In Table 13.2 the total figure for 2044-45 has been changed from 5.9 to 6.0 per cent.
•	On page 309, first dot point, spending pressure on the States should ‘treble’ not ‘quadruple’.

•	Table 13.3 was changed as shown:
Table 13.3	The distribution of spending pressure under different SPP assumptions
Age-related government spending to GDP ratios by level of Government
Alternative scenarios for Intergovernmental relations	Australian Government	Combined States	
SPPs grow with inflation and population (Case A)			
2003-04 (%)	13.5	5.2	
2044-45 (%)	17.7	7.5	
Difference (fiscal pressure) (percentage points) a	4.1	2.3	
Net debt-to-GDP ratio of cumulative gaps, 2044‑45 	1.36	0.67  0.68	
SPPs grow with GDP (Case B)			
2003-04  (%)	13.5	5.2	
2044-45  (%)	18.6	6.6	
Difference (fiscal pressure) (percentage points)	5.1	1.4	
Net debt-to-GDP ratio of cumulative gaps 2044‑45, 	1.73	0.30  0.31	
SPPs grow with service needs ( Case C - the base case)			
2003-04 (%)	13.5	5.2	
2044-45 (%)	19.2	5.9  6.0	
Difference (fiscal pressure) (percentage points)	5.7	0.6  0.7	
Net debt-to-GDP ratio of cumulative gaps, 2044‑45	1.91  1.92	0.12	

•	Table 13.4 has been changed as shown:
Table 13.4	Notional spending pressures at the State and Territory level
Age-related government spending to GDP ratiosa
Individual States (spending) 	2003-04 	2044-45 	Difference	
	%	%	Percentage points	
 NSW 	5.0	5.5  5.6	0.5	
 VIC 	4.4	5.2	0.8	
 QLD 	5.5	6.3	0.8	
 WA 	5.4	6.8	1.4	
 SA 	6.0	7.3	1.2	
 TAS 	8.6	11.3	2.7	
 NT 	9.1	10.9  11.0	1.8  2.0	
 ACT 	5.3	5.7	0.4	
 Total combined States	5.2	5.9  6.0	0.8	

Table 13.5, changes are as shown:
Table 13.5	Impact of fully indexing Australian Government allowances to Average Weekly Earnings compared with the CPI
Aggregate spending pressure as a share of GDP in 2044‑45
Spending area	Spending pressure (AWE indexation)	Spending pressure (base case)	
	Percentage points	Percentage points	
 Health care	4.54	4.54	
 Aged care & carers 	1.42	1.37	
 Age pensions	1.72	1.72	
 Other social safety net 	-0.19	-0.63	
 Education 	-0.40  -0.36	-0.52  -0.49	
 Total 	7.09    7.12	6.46   6.49	

•	Changes were made to Table 13.6 The old and new versions of the table are shown below:
Old Version
Table 13.6	Impacts on spending pressures of alternative scenarios
Difference to base case in 2044‑45a 
	More ageing	High fertility	High migration	Less ageing	Higher across-the-board labour participation	Older male participation	Higher productivity	
Change in Fiscal pressures (percentage points)	
Health care	0.54	-0.24	-0.13	-0.53	0.00	0.00	0.00	
Aged care & carers 	0.98	-0.10	-0.09	-0.40	-0.10	-0.03	-0.01	
Age pensions	1.13	-0.19	-0.15	-0.66	-0.19	-0.06	-0.04	
Other social safety net 	-0.15	0.13	0.01	0.14	-0.23	-0.19	-0.07	
Education 	-0.58	0.46	-0.21	0.38	-0.20	-0.07	-0.12	
Total 	1.92	0.06	-0.57	-1.06	-0.72	-0.35	-0.24	
Change in debt-to-GDP ratio in 2044‑45 (proportion)	
	0.16	0.13	-0.21	-0.26	-0.25	-0.11	-0.27	

New version
Table 13.6	Impacts on spending pressures of alternative scenarios
Difference to base case in 2044‑45a 
	More ageing	High fertility	High migration	Less ageing	Higher across-the-board labour participation	Older male participation	Higher productivity	
Change in Fiscal pressures (percentage points)	
Health care	0.54	-0.24	-0.13	-0.53	0.00	0.00	0.00	
Aged care & carers 	0.98	-0.10	-0.09	-0.40	-0.10	-0.03	-0.01	
Age pensions	1.13	-0.19	-0.15	-0.66	-0.19	-0.06	-0.04	
Other social safety net 	-0.15	0.13	0.01	0.14	-0.23	-0.19	-0.07	
Education 	-0.51	0.49	-0.02	0.46	-0.20	-0.07	-0.02	
Total 	2.00	0.03	-0.35	-0.98	-0.72	-0.35	-0.13	
Change in debt-to-GDP ratio in 2044‑45 (proportion)	
	0.21	0.11	-0.12	-0.21	-0.25	-0.11	-0.21	

•	In Box 13.1, page 319, first paragraph — the figure 0.13 has been changed to 0.11 (“However, its effect on the debt to GDP ratio in 2044-45 is larger, increasing the ratio by 0.11.”).
•	In Box 13.1, Second paragraph: The figure 0.6 was changed 0.35, the figure 0.21 was changed to 0.12 and the figure 1.8 was changed to 1.9.
•	In Box 13.1, page 320, top paragraph, the sentence: “Indeed, it provides almost as much relief as a low ageing scenario in terms of its accumulated liabilities…” was changed to “Indeed, it provides about the same relief as the low ageing scenario in terms of its accumulated liabilities…”
•	On page 321, in the first paragraph of Section 13.4 at the bottom of the page, the figure $4150 was changed to $4200.
•	On page 324, in the first dot point at the bottom of the page, the figure $4500 was changed to $4700. In the second dot point, the figure $81 000 was changed to $82 000.