The release of the Intergenerational Report showed the fix is on for young and old. Guess who wins?
This week saw the release of two intergenerational reports: one detailed how Australia will transfer wealth and power into the hands of a favoured few; the other was a government document with an audacious plan to do it faster.
The cost of health, aged care, the NDIS, interest on government debt and defence will account for half of all government spending in 40 years time – up from a third today – leaving less money for other initiatives. The population pyramid, with far fewer old people than young people, is turning into the long-foreshadowed mushroom cloud.
Chalmers pictures himself as the driving force behind transforming Australia into a renewable energy superpower. This will be achieved by channelling lots of taxpayer money into the “Powering the Regions Fund, the National Reconstruction Fund, the Hydrogen Headstart and broader clean energy investments”.
On top of that, the prime minister had also solicited an internship at consulting giant PwC for his son, something that is not available to people without such connections. But not to worry. These were simple transactions between a person with political influence, and firms whose profits depend on the good graces of influential politicians.
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