Australian Budget Addresses Intergenerational Equity but Leaves University Fee Changes Unchanged

The federal budget placed tax and housing measures at the center of efforts to address intergenerational equity. No changes were made to the university fee structure introduced under the previous government. The treasurer, Jim Chalmers, stated that the budget addressed intergenerational equity. Young Australians face higher costs in tax, housing, and education compared with earlier generations.

The job-ready graduates package sets fees for some arts degrees at $52,000. Combined degrees can reach $100,000 under the current system. An Australian National University study released last month found that a university degree is the single most consistent predictor of positive life outcomes. Graduates reported higher life satisfaction and lower financial stress.

University reports that two-thirds of its students are the first in their families to attend university. Many come from lower-income backgrounds. The current fee structure limits access for students without family financial support. Some students work long hours or face financial hardship during their studies.

The government has set a target for 80 percent of working-age people to hold tertiary qualifications by 2050. Reaching this target is projected to add $240 billion to the economy by 2050. 917 billion and lower maximum arts and humanities fees to $30,000. The government previously allocated $16 billion to reduce existing student debts by 20 percent.