For younger Australians, this budget falls woefully short

In the lead-up to this year’s federal budget, young Australians were hoping to see the government roll out measures that would give us hope for our financial future – something that might make it easier to afford rent, or at least groceries.

The reversal of 2023’s eye-watering 7.1 per cent indexation is relieving, but we were hoping for more. An indexation freeze and a higher income threshold for repayment would have gone a lot further for students and graduates who hold genuine concerns about our ability to buy a house one day.for students doing mandatory unpaid placements is also better than nothing, but with a full rate that works out to be $8 an hour, it still falls well below the minimum wage.

policy appears promising to those of us who want to see more action on climate change and a viable pathway toThis includes a commitment of $6.7 billion in production tax incentives for hydrogen, $1.7 billion to promote green metals and low carbon fuels, and $1.5 billion for battery and solar panel supply chains.But upon closer inspection, it’s clear that most of these measures are aimed at facilitating and incentivising investment in renewables by private industry.

While the actual amount pocketed from the energy subsidy will be much smaller for those of us forced to split it among the many in our share houses, rest assured that both Rinehart and Forrest will receive the full rate for each of their multiple properties.Despite this, the Made in Australia Future policy does offer young people something that previous budgets lacked: a long-term economic vision in which they’re set to play a crucial role.

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