Replacement fertility in Australia (combined with nil net migration) would produce a stable, stationary population of between 19 and 20 million people, with an older age structure than the present population, in the first half of the 21st century. Continued below-replacement fertility would lead to a smaller maximum population, followed by population decline and an even older age structure. This paper argues that there is no need to increase the population and that a more mature age structure promises a number of benefits. Population growth imposes further costs on the already stressed natural environment and on the cities, and no economic benefits clearly offset these costs. The Fraser and Hawke Governments have chosen to promote population growth through immigration rather than through pro-natalist policies which would support families. While there is no demographic need for higher fertility rates, below-replacement fertility may reflect the hardships faced by parents, especially mothers. Irrespective of whether this would raise fertility or not, steps should be taken to redress these hardships.