Treasurer Chalmers dismisses new baby bonus amid accelerating fertility decline

Australia's forthcoming Intergenerational Report is set to highlight a steepening decline in fertility rates, which will reduce overall population growth from an average of 1.4% to 0.9% over the next four decades. Treasurer Jim Chalmers ruled out reinstating the baby bonus, noting that the government intends to address the issue through a suite of measures including expanded early childhood education, longer paid parental leave and superannuation contributions on that leave.

He said almost half of the fertility drop stems from fewer families having three or more children, reflecting a trend of women having fewer children later in life. Chalmers also affirmed that well-managed migration remains a valuable tool for sustaining the economy. While Queensland independent Bob Katter has floated a $75,000 parental payment to boost births, the federal government has not embraced that idea. The previous baby bonus, introduced in 2002, was discontinued in 2014 and replaced by means-tested Centrelink family assistance payments.