raising the statutory retirement age" and "public finances in the medium term"
Does anyone know the meaning of the following phrase? "Raising the statutory retirement age, which improve public finances in the medium term without denting demand now."
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Answers · 2
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The Australian government has done this as well, in order to save money.
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If we raise the statutory (legal) retirement age, the government does not have to pay so much in income to people who have retired.
Medium term in this case refers to finances for the next 5 or 6 years. Long-term finance would probably be more like 6 to 30 years (or even more), depending on the context.
Short term for public finance would be 1 to 2 years.
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