Why We Need a Future Generations Approach - The Australian Imperative

The world is changing rapidly. Climate change, economic instability, and widening social divides are no longer distant threats - they’re here, and they’re reshaping our lives in real time. Yet, Australia’s policy decisions remain stuck in short-term cycles, focused on quick wins rather than the bigger picture.

It’s time for a rethink. We need a new approach - one that prioritises long-term wellbeing over short-term gains. If we truly want Australia to thrive, we need policies that work not just for us today, but for every generation that follows.

This is Australia’s moment to lead with a bold, long-term vision that transcends the short-term thinking entrenched in our governing bodies and sets a course for future generations. But first, we need to understand what’s at stake if we don’t.

1. The Short-Term Trap: Why It’s Holding Us Back

Australia’s political system is built on short-term election cycles. Governments are under pressure to deliver results fast, which means big, complex reforms - think climate action, education, or healthcare - often get pushed aside.

The result? We kick the can down the road, leaving future generations to deal with mounting problems. And let’s be real: that’s not leadership - it’s avoidance.

If we want real progress, we need a shift in mindset. We need policies that look beyond the next election and focus on long-term resilience.

2. Interconnected Problems Demand Interconnected Solutions

Nothing exists in a vacuum. Climate change, economic instability, social inequity - they’re all deeply linked. They’re all part of the same web. Take economic growth, for example - if it comes at the cost of environmental destruction, we end up with unsustainable development, worsening climate risks and straining social systems. 

Global frameworks like the UN’s Sustainable Development Goals and the IPCC’s Sixth Assessment Report make it clear: real solutions require a big-picture approach, balancing economic, environmental, cultural, and social needs together.

Australia can and should be leading the way.

3. The Growing Wealth Divide

Economic inequality in Australia is widening, and young Australians are feeling the squeeze. Housing costs are through the roof, student debt is weighing young people down, and job security is shaky at best. Meanwhile, as the population ages, young generations will be expected to bear an even greater financial burden.

All of these factors contribute to an intergenerational wealth gap that is locking young people out of economic mobility and deepening inequality. With the impending ‘great wealth transfer’ - as older generations pass down their assets - there is a critical risk of widening wealth disparities unless bold policies are implemented to safeguard intergenerational equity and ensure a fairer distribution of opportunity.

4. A Changing Population, A Pressured System

By 2057, the number of Australians aged 65 and over is projected to nearly double. That’s a good thing - we’re living longer! - but it also means more pressure on healthcare, aged care, and social security systems. 

The challenge? Younger Australians, already grappling with economic uncertainty, will be expected to support these expanding needs. Without a long-term policy framework that addresses these demographic shifts, we risk pushing this burden onto future generations without ensuring they have the resources to handle it. 

5. Technology is Reshaping Everything

Artificial intelligence and automation are revolutionising industries, transforming how we live, work, and connect. These advancements have enormous potential, but they also come with risks - especially if regulatory frameworks can’t keep pace. 

If we don’t get this right, we risk undermining public trust and creating long-term disruptions in areas like job security, consumer privacy, and social cohesion. 

KPMG research emphasises that responsible innovation, transparency, and accountability are essential to ensuring AI benefits society. A future-generations approach with proactive regulation is needed to harness technologies benefits while mitigating potential risks - before they become unmanageable.

6. Our Environment Can’t Wait

If there’s one thing all Australians can agree on, it’s that our country’s natural beauty is worth protecting. But climate change is hitting us hard, and we’re particularly vulnerable to it. From the Great Barrier Reef bleaching to bushfires and water shortages, we’re seeing the impacts every day.

Rural and economically disadvantaged communities bear the brunt of these changes, often with fewer resources to adapt. A future generations approach would put sustainable resource management, climate resilience, and environmental restoration at the heart of decision-making - so that future Australians inherit a country as rich and vibrant as the one we love today, maybe even more so.

7. Our Ever-Growing Social Divide

Economic inequality and polarisation are eroding trust in our institutions. Australians in lower income areas report feeling higher levels of distrust and social fragmentation. Social media intensifies these divides by creating echo chambers, where people are primarily exposed to viewpoints that reinforce their existing beliefs, making meaningful dialogue and common ground harder to achieve. 

But here’s the thing: communities thrive when people feel heard, valued and engaged. We need to rebuild that sense of community. Creating more opportunities for civic engagement and participatory governance - where people have a real say in the decisions that shape their lives - could help bring us back together.

A stronger democracy starts with a stronger sense of community.

Moving Toward a Future-Focused Australia

The challenges ahead are big. But they are not insurmountable. 

Imagine a Future Generations Act, like the one in Wales, that makes intergenerational fairness a legal priority. Imagine policies that account for the needs of both current and future Australians - policies that address climate resilience, economic inequality, and technological innovation in a way that’s sustainable and fair. Foundations for Tomorrow has laid the groundwork, proposing a framework that incorporates these priorities and sets Australia on a path to success. 

Australia needs all of our help. This isn’t just about fixing today’s problems. It’s about creating a legacy of stewardship and growth - one that transcends political cycles and ensures Australia thrives for generations to come.

Author: Maeson Harvey