Australia's Wealth Gap: Robbing Young Workers
Update: 2025-12-27
Description
Australias wealth gap between older and younger generations is widening, with the tax system and housing market being key contributors. The former Treasury secretary and a former treasurer label it a national tragedy, while an independent economist points to the housing mess as the main culprit. Home ownership for young adults has plummeted, while it remains high for those aged 65 and over. The wealth share for older Australians has increased, while it has decreased for younger age groups. Proposed reforms to address the issue include swapping stamp duty for land tax, cutting super concessions, ending first-home grants, and eliminating investor tax breaks on existing homes. The government has expressed a desire for sustainable growth and more supply, but the gap is likely to have widened due to soaring prices.
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