The fiscal storm confronting young Australia

Economic and demographic changes mean younger Australians are facing a perfect storm of bad luck -- and there’s no quick fix.

As if the Murray report had not put enough pressure on the government at the weekend, a new report from the Grattan Institute will add to that pressure by pointing out the growing divide in wealth, and opportunity to grow wealth, between today’s older and younger generations.

The ‘Wealth of generations’ report charts the end of something wonderful -- a 70-year run of strong wages growth that kept alive a pleasant example of what economists and demographers call the ‘generational bargain’.

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