How younger Aussies are worse-off than their parents

Inequality between generations in Australia is at a 20-year high, according to a new report by the Actuaries Institute.

The Institute contends this is because government spending favours the old and because asset prices have risen faster than incomes.

The Institute states that current young people have better education, health and social outcomes than previous generations of young people, but worse economic, environmental and housing incomes. Policy options suggested by the Institute include boosting childcare subsidies and including a retiree’s home in the Aged Pension asset test:

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