Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Hansard source

I thank the member for Mackellar for her question and for her advocacy, and I certainly commit to having a look at the ideas that have been put forward by the member for Mackellar, who plays a constructive role in this chamber.

I agree about the question of intergenerational equity—and I have spoken about this, including in the speech that I gave at the National Press Club—because it is a genuine feeling that people have, arising out of the changed circumstances which are facing young Australians. Young Australians are very concerned about not just their economic position. the fast-changing nature of workplaces and their experiences in life but also about dealing with the challenge of climate change and the fact that people who say, 'You can't make a difference immediately,' forget the fact that generations who will inherit our climate are not ones that have benefited from the growth that came from fossil fuels in the 20th century and the 21st century.

One of the things we have done is establish the Economic Inclusion Advisory Committee. The Minister for Youth is very active in establishing an Office of Youth Affairs—it didn't exist before we were elected to government. We have delivered on our commitment to deliver a more robust intergenerational report in the middle of every year term, and one of the reasons we are targeting debt is it makes a difference. Debt is $177 billion lower in 2024-25 than what was forecast at the time of the election.

We're also, of course, investing in children's education, whether it be early education and early learning, with our childcare reforms and the school reforms I just spoke about—moving towards fair school funding as identified by Gonski all those years ago—right through to free TAFE and to universities. The cutting of student debt by 20 per cent is about intergenerational equity. It is about acknowledging the concern and pressure that young people are under. More than three million Australians will benefit by an average of $5,000 if we're re-elected as government, as one of the first actions that we will do will be to introduce that legislation in our second term.

We're also, of course, building more homes for Australians, which is important. We're investing in future jobs through our future made in Australia. And our climate change action is the thing that young people, when I travel, particularly to high schools, raise with me perhaps more than any other issue around Australia, and I'm sure that's the case in the member for Mackellar's electorate as well.

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