Ross Garnaut News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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Australia is at risk of "giving up on equity" if governments fail to reform housing and tax policies to improve the economic prospects of younger generations, according to Ross Garnaut, one of the country's most respected economists.

Under hapless Jim Chalmers, population growth is beating GDP growth. Budget surplus or not, no voter bribes or band-aids can rectify a Budget persisting with immigration at 3-5 times sustainable levels.

If Jim Chalmers can deliver on his big picture, Australia will win on a global scale. If not, the title of Christopher Malouf’s Archibald Prize portrait will be vindicated.

As the world stops buying our fossil fuels in coming decades, Australia must hunt around in our natural endowment to find a new comparative advantage.