Australia's Treasury has forecast that life expectancy will rise significantly over the next four decades, reaching nearly 90 years for women and 86 years for men by 2065/66, up from current averages of roughly 86 and 82 respectively. The projections appear in the government's latest intergenerational report — a document published every five years that models the long-term effects of policy decisions — with Treasurer Jim Chalmers crediting the country's universal healthcare system, Medicare, and advances in medical research as the primary drivers. The report also warns that an ageing population will place growing pressure on the federal budget, even as projected government debt has been cut by half a trillion dollars compared to the previous 2023 forecast.