Season 3, Ep 7: building an economy that doesn't screw young people, with Jane Body and Thomas Walker

Young people today have the deck stacked against them, and they know it.

They’ve grown up in a world defined by the global financial crisis, the climate crisis, a housing and cost-of-living crisis, and a global pandemic. Their HECs debts are growing, their confidence in the future is shaky, and it’s feeling nigh impossible for all but the most fortunate to secure the basics of a good life.

Today we’re hearing from two millennial leaders determined to turn things around.

Meet Jane Body and Thomas Walker. Jane is General Manager and Tom is Chief Economist for Think Forward, an organisation that promotes intergenerational fairness and an economy that works for all generations. They say the main economic challenges young people are up against aren’t inevitable (or the result of too much smashed avocado); but the result of deliberate policy choices, and timidity to undo previous bad decisions.

So how do we rewrite the rules and share the wealth in a way that better supports wellbeing at all stages of life? What would it look like to think long-term and make policies designed to improve the next 20 years… instead of just win the next election? And how can we bring people together, instead of falsely pitting different generations against each other?

This is a relatable, thoughtful and thought-provoking conversation; and if you’re a Millennial or member of Gen Z especially, we hope you feel really seen and understood. Because while no young person should have to worry about things like tax policy, economics and superannuation — we’re so grateful people like Jane and Tom are out there, championing the kind of change that benefits us all.

This episode of the reMAKERS was recorded on the lands of the Gubbi Gubbi people, in Queensland’s Sunshine Coast.  We honour the Traditional Owners of these lands and waters, and pay our respect to Elders past and present.

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Show notes

Things we mention

• The generational gap in wealth in Australia 

• A wellbeing economy 

• The Game of Life  

• The flaws in Australia’s tax system 

• HECS debt indexation  

• Think Forward’s campaign for a Parliamentary Inquiry into intergenerational fairness 

• The UK Inquiry into international fairness 

• Senator David Pocock’s Bill on international equity bill

• Our podcast with Sophie Howe on working for the future generations in Wales 

• Jane doesn’t expect to pay off her HECS debt until she’s 65 

• The Australian Government’s Measuring What Matters Statement  

Recommendations and things you can do

• Visit Think Forward’s website to read more about their work. 

• Sign Think Forward’s petition for a Parliamentary Inquiry on intergenerational fairness. 

• Take Think Forward’s survey on the tax system, its purpose and Australia’s economic future.

• Donate to support these conversations and the work of Australia reMADE.

• Subscribe to the reMAKERS podcast (hit ‘follow’ in your podcast app). Share on social, write a review, tell a friend.

• Join the conversation. Find us on social media (@Australia reMADE) or email us at podcast@AustraliareMADE.org.