The baby bonus policy was delivered in 2004 by then-treasurer Peter Costello following Australia’s lowest-ever birth rate.

At the time, Costello urged parents to “have one for mum, have one for dad and have one for the country”.

This initiative had a significant impact on the nation’s birth rate, leading to an average of two children per woman by 2008 and achieving a record of 301,617 births by 2011. This surge surpassed the influx of babies seen during the post-World War II baby boom era.

“Later governments should never have watered down these policies,” Howard said.

“Their restoration or that of equivalent policies will help address the quite disturbing and depressed level in the ­current fertility rate.”

The Coalition has joined Howard in the call for a new baby bonus scheme.

However Nationals leader David Littleproud said $3000 won’t be enough to support families who can’t afford to feed another mouth.

“I don’t think a baby bonus is going to spur anybody on who just simply cannot financially afford to have a baby,” Littleproud told Today.

“Circumstances have changed considerably. I recall when my sister received the baby bonus years ago, and considering today’s property prices, inflation, and income levels compared to those days…

“I know people who want to expand their families but, once they evaluate their finances, they realize they simply can’t afford to have another child. For them, a baby bonus isn’t the solution.”

Australia’s birth rate plummeted in 2023 to levels not seen in 17 years.

The nation’s fertility rate for 2023 hit a record low of 286,998 births – down 4.6 per cent or around 14,000 births from the last year.