The federal government must consider age and wealth together to meaningfully address the growing wealth divide between generations, says the Australian Council of Social Service (ACOSS). Source: ABC News.
It comes after a Senate inquiry into intergenerational housing in Australia.
ACOSS said older households held the majority of the country’s wealth.
“This is not just an ownership problem. We need to look at age and wealth together,” Jacqueline Phillips from ACOSS said.
She said people under 35 hold just 7 per cent of the country’s wealth. But the wealthiest 10 per cent of households own 25 times as much as the lowest 60 per cent on average.
Ms Phillips says there was a growing wealth gap within younger cohorts, which is higher than in previous generations.
“We must pay attention to the vast inequities in housing that are not based on age,” she said.
“And recognise the significant wealth inequalities within generations, which is most pronounced in the young generation.”
National renting group Better Renting said renting should be seen as an essential service in Australia.
Chief executive Angela Cartwright said the majority of the community believed landlords should provide affordable, comfortable and safe housing.
But three years on from the federal government announcing “A Better Deal for Renters”, she said only the Australian Capital Territory and Victoria have implemented new minimum energy-efficiency standards for rentals.
Ms Cartwright said governments across jurisdictions had failed to meet the community’s expectations on renting.
The renters’ advocacy group has called on the federal government to fund incentives for landlords to meet minimum energy efficiency standards, while protecting renters from evictions and rent increases.
FULL STORY
Housing inequity in Australia ‘must focus beyond age’ (By Ahmed Yussuf and Zena Chamas, ABC News)
