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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.
Australia is currently facing a severe shortage of rental housing, with rental vacancy rates reaching record lows of 0.8 per cent around the country. Making it easier to rent out a spare bedroom could help to address some of Australia’s immediate housing affordability and supply challenges, which could also assist in easing the pace of growth in rental prices, writes Aaron Korczak-Krzeczowski.
CEO of PwC Australia and Vice Chairman of PwC Asia Pacific, Luke Sayers discusses the 2017 Federal Budget and what it means for Australia.
Read more Opinion article April 21, 2015