Intergenerational inequity? The young have never had it so good

The Albanese government's latest budget has been partly framed to promote "intergenerational equity" and is aimed at skewing policy to the young as they are supposedly worse off compared with previous generations who now owe them extra support through additional taxes on their past earnings, investments and alleged accumulated wealth.

Yet, the premise of intergenerational equity is flawed as the "young" – thanks to real reforms by previous governments – "have never had it so good" to borrow former UK prime minister Harold Macmillan's phrase about Britain's prosperous 1950s.

Indeed, young people today from when they are born, start school, attend university in increasing numbers, leave home, form relationships, and enter the workforce, enjoy living standards, benefits, personal freedom, and independence greater than any previous generation.

Their world is very much the result of their choices and the opportunities they take.

A well-funded national health scheme has provided young people (and the older generation too) with unprecedented access to services to ensure their well-being. While the older generation is living longer, the expectations for the young will surpass them.

Modern housing means young people have enjoyed accommodation that is bigger, warmer and cooler, and full of every conceivable modern appliance.

Yes, buying your own home is not easy, but there is now so much you have to buy. And was it ever easy? The post-war generation had to scrimp and save to buy a home and move to the new, raw outer suburbs.

"While Macmillan was right that people had 'never had it so good' he also warned it was 'too good to be true'."

Massive record education spending during the past thirty years has manifested in smaller class sizes, which have almost halved since the 1960s.

School buildings are more comfortable and there are special programs for every imaginable learning difficulty and every type of student.

University is now more open to all talents and every disadvantage. That education standards have declined and that a university education no longer offers the automatic ride to job security or increased income, however, is another issue that no government wants to address.

And when it comes to personal and sexual freedom, young people win the trifecta. Contraception is easier and safer and sex education is open compared to previous times – all accompanied by a relaxation of religious, family and social prohibitions, neatly enwrapped in talk of rights and personal fulfilment.