The return of a baby bonus is back on the table amid record-low birth rates. 

The Australian Bureau of Statistics reports the nation’s birthrate has plummeted to just 1.58 births per woman.

There’s warnings it could have serious long-term effects for the nation’s economy.

Social researcher Mark McCrindle told Sofie Formica it’s time to start thinking about how to encourage the rate back up.

“We know that policy intervention worked last time because we saw it go from 1.7, and instead of further sliding, it went up to 2.1 in the next decade,” he said.

“It is the most expensive time of life when young couples are not only thinking about a mortgage and housing cost, but suddenly thinking about all the accessories that come with raising a child.

“It’s economically a time when some sort of tax incentive or bonus can assist them.”

But Mr McCrindle admitted a one-time lump sum pay may not be the best option to address the root of the hesitancy.

“Probably these days a more nuanced policy might assist.

“Much of the blocker as to why we’re not having children more or earlier is because of housing affordability.”

Press PLAY below to hear the baby bonus debate in full 

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