Donate NowDespite the 30-year economic boom that preceded the Covid pandemic, there is growing evidence that younger Australians have not shared in the benefits to the same extent as generations before them. These younger generations will bear the brunt of paying back the $617 billion of government debt incurred in the wake of the government response to Covid, debt that is set to peak at an eyewatering $1.2 trillion in 2025-26. As the cost of financing government debt and expenditures arising from an ageing Australia climb to historic levels, there will be fewer and fewer working age Australians per retiree.
Since younger Australian will face far greater fiscal challenges compared to earlier generations, it is imperative that the Australian electorate — especially younger voters — make informed decisions at the ballot box. The CIS Intergeneration program will focus on policy reform that will ensure an equitable distribution of the burden of budget repair.
Matt and Salvatore discuss the research the Intergenerational program will undertake, the challenges facing younger Australians and the extent of intergenerational income mobility in Australia.