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Older, bigger, slower growing, more diverse. Living standards at risk of going backwards. These were the key takeaways from the latest Federal Intergenerational Report (IGR), writes Dr Liz Allen. The intergenerational bargain or contract, which implicitly suggests that the country handed to each subsequent generation is the same, if not better, than the socioeconomic conditions enjoyed previously, has been eroded. Increasing or maintaining living standards can no longer be guaranteed. Australia’s dumb luck has run out.
The 2024-25 Federal Budget reflects the challenging task of balancing fiscal responsibility, curbing inflationary pressures and meeting spending demands to accelerate the energy transition, address geopolitical priorities and promote a fairer society. The challenges are exacerbated by the growing complexities of the global landscape and the decline in bipartisan cooperation in policy development. Regrettably, the Budget's effectiveness in tackling these challenges is constrained. It embodies a compromise reflecting the limits of what is politically feasible, writes UQ Professor Flavio Menezes.
Read more Opinion article February 21, 2024ASX 200 companies have spent more than $36 billion on share buybacks over the last three years, new CEDA analysis has found, as firms prioritised returns to shareholders despite the need for key long-term investments.
Read more Opinion article April 21, 2020University of Sydney United States Studies Centre Trade and Investment Program Director, Dr Stephen Kirchner, says that the COVID-19 crisis emphasises the link between Australia's global integration and productivity growth. As such, he argues that re-establishing Australia's international connectedness after the crisis should be a key priority for policymakers.
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