Today marks World Population Day, an occasion to acknowledge the critical topic of population growth.
While overpopulation can undeniably pose significant challenges, straining resources and the environment, it is equally important to recognize the adverse effects of underpopulation.
Birth rates are a key indicator of stability and economic growth. People will have kids if they believe their jobs are secure, the economy is robust, and there is adequate security and infrastructure.
A decrease in population growth however could potentially harm the economy since there would be a reduced workforce, lower consumer demand, and a decline in overall business activity.
As a result of low birth rates, financial incentives are increasingly being offered as a solution in many countries.
They are offering increased access to daycare, and longer and better-compensated maternity and paternity leave, enabling both men and women to work and have families, thus raising birth rates.
1. China
The state-run tabloid Global Times reported that in Lianjiang City in southern Guangdong province, the government pays permanent residents up to $510 per month for children born after September 1, 2021. Monthly subsidies, which may reach more than $15,000 per infant by the time they are two and a half years old, will be given to families.
2. Finland
Applying for the maternity grant in Finland requires that you have been pregnant for at least five months (154 days). The maternity grant may be given as a cash payment or as part of a package that includes baby clothes and childcare supplies. If you select the cash benefit, you will receive 170 euros tax-free.
3. Estonia
Families in Estonia are rewarded for having more kids. The amount of money a family receives increases with its size. When a child is born, parents receive a one-time payment of 320 euros known as the “childbirth allowance.” The allowance for triplets (or more siblings) is 1,000 euros per child (3,000 euros in the event of triplets), with no additional fees. An increase in birth rates is fueled by other incentives such as a year-long paid maternity leave.
4. Japan
Japan’s fertility rate has reached its highest level in 21 years because it started paying people to have children. The locations with the highest gains were those where similar monetary rewards for having children were in place. Parents in one community on the island of Nakanoshima, Ama, are given 100,000 yen ($940) for their first kid, but by the fourth child, they can receive a larger payment of up to 1 million yen (about $9,400).
5. Australia
If a baby or child comes into your care in Australia, you might qualify for the Newborn Upfront Payment and Newborn Supplement if you or your partner meet the criteria.
The baby bonus is a financial benefit that is provided to new parents to help cover the costs of raising their child. The amount of the bonus is determined based on the individual’s or couple’s salary. During the first few months of the child’s existence, this payment is made in 13 fortnightly payments.
Depending on your situation, if your child was born or adopted on or after July 1, 2013, or if you became eligible for the baby bonus during this period, you can receive a reward of either $5,000 or $3,000. You are qualified for the $5,000 payout for your first child, excluding stillbirths. You’ll get the $3,000 baby bonus for any more kids.
This is such an amazing initiative to increase population growth in underpopulated countries, but one wonders how the parent(s) would continue to take care of the children as they grow.
