Home » Coverage of Generation Trapped paper by the AFR, SSB and 2SM
Handouts won’t help the young become better off — Australian Financial Review
Fewer than four in 10 young people believe they can influence the barriers blocking their aspirations – financial security, home ownership, meaningful work, relationships and children.
These findings are not a progressive conspiracy, but confirmed in a new 100-page research report by Parnell Palme McGuinness for the classical liberal, centre-right think tank, The Centre for Independent Studies.
The report was backed by a survey of more than 2000 people, including 1200 18-34 year-olds, by Spectre Strategy’s Morgan James, who has previously done polling for the Liberal Party.
The findings are similar to concerns raised by independent MP Allegra Spender in her tax white paper released last week, when she argued taxes on wages need to be cut to assist working-age people get ahead.
McGuinness takes the argument beyond tax and mounts a compelling case.
Many of the Band-Aid solutions from politicians may be making the problems worse, rather than dealing with the underlying causes of the intergenerational challenges.
McGuinness argues that the narrowing of choices through these government policies is trapping younger people and disempowering them to improve their livelihoods.
“They distort the economy, but they also distort the behaviour of the person who receives the grant because they’re forced into a particular behaviour track by the fact that that’s the only subsidised way to go,” she says.
Instead, she says young people need to be given more freedom and be empowered to improve their futures.
The research finds that young people who feel more in control of their futures have more life satisfaction and are less anxious. This is the case across the income spectrum, even for younger people who do not yet have financial security.
Gen Z are anxious, politically divided and lacking hope: study — Australian Financial Review
The Centre for Independent Studies report found that while young people were divided on how to fix the housing crisis and deal with the rising cost of living, nearly half of them constantly worry about their futures and lack a sense of control over achieving their goals.
“Young people are often treated as one homogenous group,” report author, Parnell Palme McGuinness, said.
“Polling and analysis often focus on their similarities instead of their differences. But the differences are often more important.”
The report found that 66 per cent of young Australians agreed it was harder for them to get ahead compared with previous generations, and 48 per cent are worried about the future most or all of the time.
McGuinness said having a sense of control over one’s life was one of the strongest drivers of life satisfaction, and that tax reform would best serve young people if it let them keep and control more of their own money.
“Housing affordability is important to [young people], but the desire for home ownership should also be understood as a symbol of personal control, which is what these tribes are craving,” McGuinness said.
The research by McGuinness showed that housing affordability, financial insecurity and time scarcity were considered the biggest barriers to success among young people, with only four in 10 believing they have any control over those barriers.
She found that young people were divided on how to fix the problem.
Around 18 per cent are highly progressive and pessimistic about where Australia is heading, supporting massive redistribution of wealth. But 12 per cent think the solution lies with far-right leaders like Pauline Hanson, a return to traditional values and scaling back immigration.
Meanwhile, 16 per cent are completely politically disengaged, neutral on most issues and mostly optimistic about the future.
McGuinness said the government needed to frame reform in terms of how it would improve young people’s agency and control over their own lives.
Young Australians Divided on Politics and Values, Struggle with Future Concerns — SSB
A recent report from the Centre for Independent Studies reveals significant divisions among young Australians, particularly within Generation Z and Millennials, regarding their political views and values. The findings indicate a growing ambivalence among this demographic towards the Albanese government’s emphasis on intergenerational equity.
As the country grapples with a pressing housing crisis and escalating living costs, young Australians express a range of opinions on potential solutions. The report highlights that these differing perspectives are accompanied by a pervasive sense of uncertainty about the future. Nearly half of the surveyed individuals reported feeling anxious about their prospects, struggling to find a sense of control over their ambitions and goals.
This disconnect points to a broader trend among younger generations, who appear to be navigating complex challenges in a rapidly changing economic landscape. With debates surrounding effective government policies becoming increasingly contentious, the report suggests that many young Australians remain disengaged from pressing political discussions that directly impact their lives.
The findings call into question the effectiveness of current government initiatives aimed at addressing the needs and concerns of young people, indicating that significant work remains to foster a sense of inclusivity and empowerment within this vital demographic segment. As these issues continue to evolve, understanding the perspectives and stresses faced by younger Australians will be essential for forging a path towards effective solutions.
Coverage of Generation Trapped paper by the AFR, SSB and 2SM