An Australian economic reform roundtable has underscored the urgent need to address intergenerational inequity, highlighting how current policies favor older Australians and hinder the development of younger generations.

While societal neglect has stalled the progress of young Australians, recent discussions offer hope that reforms could create a fairer future, despite political resistance from older voters benefiting from the status quo.

Political resistance remains a significant obstacle, as older voters who benefit from existing policies oppose reforms, making systemic change politically contentious.

Despite being more educated, Millennials face economic challenges such as lower homeownership rates—55% compared to 66% of Baby Boomers at the same age—and are delaying marriage and childbearing.

Economists like Saul Eslake point out that the tax system disproportionately burdens younger, asset-poor workers, exacerbating their economic struggles.

Although some immediate policy actions are being proposed by Treasurer Jim Chalmers, significant systemic reforms addressing intergenerational fairness remain uncertain and politically sensitive.

Younger Australians report feeling disconnected from political institutions, with only about one-third trusting the federal government to act in their best interests, reflecting their sense of marginalization.

The government recognizes systemic inequities but remains cautious about implementing reforms due to political risks, focusing instead on maintaining long-term trust and stability.

A Deloitte report highlights that Millennials and Generation Z are experiencing longer paths to economic stability, including delayed marriage, lower homeownership, and increased insecurity, driven by globalization, climate change, social media, AI, and COVID disruptions.

Despite higher education levels and lower unemployment, young Australians face insecure employment, delayed financial independence, and systemic barriers that leave them feeling sidelined and unheard.

Key figures like Treasurer Jim Chalmers, former Treasury secretary Ken Henry, and economist Bob Breunig have discussed how current policies favor older Australians, contributing to intergenerational inequity.

Experts such as Danielle Wood warn that Australia risks breaking its 'generational bargain,' where each generation is expected to live better than the last, due to systemic issues.