Powerful forces will continue to shape Australia’s economy over the coming decades including population ageing, expanded use of digital and data technology, climate change and the net zero transformation, rising demand for care and support services, and increased geopolitical risk and fragmentation. These forces will influence the future path and structure of our economy and change how Australians live, work, and engage with the world.
By 2062–63, the economy is projected to be around two and a half times larger and incomes 50 per cent higher in real terms. However, like other advanced economies, Australia’s economic growth is projected to be slower than in the past 40 years. This is driven by lower projected population growth and reduced participation due to ageing, along with an assumption of slower long-run productivity growth. The economy is projected to grow by an average of 2.2 per cent per year in real terms over the next 40 years compared to 3.1 per cent over the past 40 years.
Slower economic growth will place pressure on the tax base at a time of rising costs, creating a long-term fiscal challenge. Despite recent improvements in Australia’s fiscal position, debt-to-GDP remains high by historical standards. Long-term spending pressures are also rising across health, aged care, the National Disability Insurance Scheme (NDIS), defence and interest on government debt. Gross debt is projected to decline from historical highs before rising again from the late 2040s to reach 32.1 per cent of gross domestic product (GDP) by 2062–63.
Australia’s ability to meet challenges while seizing future opportunities depends on choices today. The Government is repairing the budget, while also making the critical investments and productivity reforms necessary to grow the economy. This will position Australia to take maximum advantage of emerging technologies and the transformation to net zero. The Government is also investing in people, sustainably providing essential care and support services, expanding opportunity and addressing disadvantage, and continuing to position the nation’s diplomatic and defence capability for regional security.
General Advice Warning
All strategies and information provided on this website are general advice only which does not take into consideration any of your personal circumstances.
Please arrange an appointment to seek personal financial, legal, credit and/or taxation advice prior to acting on this information.
Credit Representative: 383917 is authorised under Australian Credit Licence 391209. DisclaimerPrivacy Policy
Staff Name
Sed consectetur placerat viverra. Praesent sollicitudin erat quis maximus iaculis. Nam quis augue dolor. Morbi sapien urna, consectetur vel scelerisque et, efficitur vitae augue. Nullam elementum erat pulvinar scelerisque maximus. Cras placerat tincidunt semper. Vestibulum mollis enim finibus augue aliquam condimentum. Phasellus molestie lorem quis leo porta pretium. Fusce lacinia lorem elit, et finibus lectus efficitur a.
Quisque tellus odio, convallis luctus imperdiet vitae, tristique eget nulla. Ut nibh enim, tincidunt eu molestie vel, sodales at mauris. Praesent fermentum nibh felis, dapibus faucibus neque vulputate vitae. Sed feugiat orci vitae purus suscipit, malesuada commodo arcu semper. Integer condimentum venenatis ligula iaculis rutrum. Vestibulum tempor orci non posuere molestie. Integer mi ipsum, feugiat at metus sit amet, tempus finibus sem.
All care is taken in the preparation of the information and published on this website. Bedford Finance does not make any representations or give any warranties about its accuracy, reliability, completeness or suitability for any particular purpose.
To the extent permissible by law, Bedford Finance will not be liable for any expenses, losses, damages (including indirect or consequential damages) or costs which might be incurred as a result of the information being inaccurate or incomplete in any way and for any reason.
If you have any concerns regarding the content of the website, please contact us.
Privacy Policy
Bedford Finance is committed to providing quality services to you and this policy outlines our ongoing obligations to you in respect of how we manage your Personal Information.
We have adopted the Australian Privacy Principles (APPs) contained in the Privacy Act 1988 (Cth) (the Privacy Act). The NPPs govern the way in which we collect, use, disclose, store, secure and dispose of your Personal Information.
A copy of the Australian Privacy Principles may be obtained from the website of The Office of the Australian Information Commissioner at https://www.oaic.gov.au/.
What is Personal Information and why do we collect it?
Personal Information is information or an opinion that identifies an individual. Examples of Personal Information we collect includes names, addresses, email addresses, phone and facsimile numbers.
This Personal Information is obtained in many ways including correspondence, by telephone and facsimile, by email, via our website www.bedfordfinance.com.au, from your website, from media and publications, from other publicly available sources, from cookies and from third parties. We don't guarantee website links or policy of authorised third parties.
We collect your Personal Information for the primary purpose of providing our services to you, providing information to our clients and marketing. We may also use your Personal Information for secondary purposes closely related to the primary purpose, in circumstances where you would reasonably expect such use or disclosure. You may unsubscribe from our mailing/marketing lists at any time by contacting us in writing.
When we collect Personal Information we will, where appropriate and where possible, explain to you why we are collecting the information and how we plan to use it.
Sensitive Information
Sensitive information is defined in the Privacy Act to include information or opinion about such things as an individual's racial or ethnic origin, political opinions, membership of a political association, religious or philosophical beliefs, membership of a trade union or other professional body, criminal record or health information.
Sensitive information will be used by us only:
For the primary purpose for which it was obtained
For a secondary purpose that is directly related to the primary purpose
With your consent; or where required or authorised by law.
Third Parties
Where reasonable and practicable to do so, we will collect your Personal Information only from you. However, in some circumstances we may be provided with information by third parties. In such a case we will take reasonable steps to ensure that you are made aware of the information provided to us by the third party.
Disclosure of Personal Information
Your Personal Information may be disclosed in a number of circumstances including the following:
Third parties where you consent to the use or disclosure; and
Where required or authorised by law.
Security of Personal Information
Your Personal Information is stored in a manner that reasonably protects it from misuse and loss and from unauthorized access, modification or disclosure.
When your Personal Information is no longer needed for the purpose for which it was obtained, we will take reasonable steps to destroy or permanently de-identify your Personal Information. However, most of the Personal Information is or will be stored in client files which will be kept by us for a minimum of 7 years.
Access to your Personal Information
You may access the Personal Information we hold about you and to update and/or correct it, subject to certain exceptions. If you wish to access your Personal Information, please contact us in writing.
Bedford Finance will not charge any fee for your access request, but may charge an administrative fee for providing a copy of your Personal Information.
In order to protect your Personal Information we may require identification from you before releasing the requested information.
Maintaining the Quality of your Personal Information
It is an important to us that your Personal Information is up to date. We will take reasonable steps to make sure that your Personal Information is accurate, complete and up-to-date. If you find that the information we have is not up to date or is inaccurate, please advise us as soon as practicable so we can update our records and ensure we can continue to provide quality services to you.
Policy Updates
This Policy may change from time to time and is available on our website.
Privacy Policy Complaints and Enquiries
If you have any queries or complaints about our Privacy Policy please contact us at:
