Description
Discover how Millennials and Gen-Z could transform Australia’s next election using monetary sovereignty.
Introduction
Australia’s political landscape is shifting as younger generations gain electoral power. Facing challenges like housing affordability, cost of living, and job stability, these generations are poised to reshape the next federal election. But will their collective voice finally address these entrenched problems?
The Growing Influence of Millennials and Gen Z
Millennials and Gen Z are appearing as powerful forces in shaping the political, social, and economic future of Australia. Together, they make up a sizeable part of the voting population, wielding unprecedented influence in elections and public discourse. To understand their potential and the ways they can drive change, it’s essential to delve into their values, behaviours, and unique challenges.
1. Demographic Power
• Combined Numbers: Millennials (born 1981–1996) and Gen Z (born 1997–2012) together form 50% of Australia’s population, with a substantial proportion eligible to vote.
• Growth in Representation: As Boomers retire, younger generations are becoming the largest demographic in workplaces, education systems, and consumer markets, amplifying their influence on public policy and economic trends.
2. Key Values Driving Their Decisions
• Climate Action: Millennials and Gen Z prioritize urgent action on climate change, with dedicated support for renewable energy, sustainability, and conservation policies.
• Social Justice: Issues like gender equality, LGBTQIA+ rights, Indigenous reconciliation, and racial equity resonate strongly with these generations.
• Economic Equity: They are vocal about rising housing costs, stagnant wages, student debt, and the precarity of the job market, seeking policies that promise fairness and long-term stability.
• Mental Health and Wellbeing: Mental health funding and services are high on their list, reflecting the growing awareness and acceptance of psychological well-being as a critical issue.
3. Unique Challenges They Face
• Housing Affordability: Many Millennials are either priced out of homeownership or burdened by high rents, while Gen Z is starting adulthood under similar financial constraints.
• Job Insecurity: Casualization of the workforce and a lack of full-time opportunities have disproportionately affected younger workers, contributing to economic stress.
• Education Debt: Millennials endure the most of HECS debts, with Gen Z expected to follow suit, making free or affordable education a priority for both groups.
4. Their Political and Social Engagement
• Activism and Advocacy: Both generations are deeply involved in grassroots activism, from climate strikes to social justice movements, using their voices to push for systemic change.
• Digital Advocacy: As digital natives, Millennials and Gen Z excel at using social media platforms like Instagram, TikTok, and Twitter/X to amplify causes and mobilize support.
• Increased Voting Power: They are showing up at the polls in greater numbers, particularly when inspired by candidates or policies that reflect their values.
5. How They’re Changing the Political Landscape
• Demanding Accountability: These generations are less forgiving of corruption and complacency, holding politicians and corporations accountable through petitions, campaigns, and public scrutiny.
• Rejecting Neoliberalism: Millennials and Gen Z are turning away from policies that prioritize corporate interests over public welfare, seeking alternatives like progressive taxation, public housing, and universal healthcare.
• Supporting Independent Candidates: Disillusioned with traditional party politics, they often back independents and minor parties that align with their values.
6. Relatable Examples of Their Influence
• Climate Action Movements: The School Strike for Climate, led by Gen Z activists, mobilized millions globally, pressuring governments to commit to carbon-neutral policies.
• Viral Advocacy: Social media campaigns, like those supporting Indigenous Voice to Parliament or protesting housing affordability, have forced national conversations.
• Electoral Shifts: In the 2022 federal election, younger voters played a critical role in the success of the Greens and independents, showing their ability to reshape traditional power structures.
7. Engaging Millennials and Gen Z for Change
• Accessible Policy Communication: Younger voters are more likely to engage with simplified, visually appealing content that clearly outlines policies and solutions.
• Leverage Digital Platforms: Politicians, advocacy groups, and independent candidates must use platforms like TikTok, Instagram, and YouTube to connect with these generations where they are most active.
• Empowering Grassroots Movements: Providing resources and platforms for Millennials and Gen Z to organize and advocate ensures their voices are heard.
Housing Affordability Crisis
Housing affordability is a critical issue for post-boomer generations. Due to decades of policies favouring property investors and the older generations, young Australians struggle to enter the housing market. According to the Australian Bureau of Statistics, home ownership rates among those aged 25-34 have significantly declined over the past 30 years.
Economic Instability and Job Market Challenges
Rising living costs and economic instability have further worsened the challenges faced by Millennials and Gen-Z. With stagnant wages and increasing job precarity, many young Australians find it difficult to achieve financial security. A report by the Grattan Institute highlights that underemployment and casualization are more prevalent among younger workers.
Political Disillusionment
Millennials and Gen-Z have grown increasingly disillusioned with traditional political parties, particularly the Liberal National Party (LNP). Only 20% of these demographics support the Coalition, reflecting a widespread perception that the LNP is out of touch with their needs. This dissatisfaction is driven by a lack of policies addressing their pressing concerns.
Impact on Mental Health and Wellbeing
The economic pressures and political disillusionment have significant implications for the mental health and wellbeing of young Australians. The Australian Psychological Society has reported rising anxiety and depression rates among Millennials and Gen-Z, linked to financial stress and uncertain futures.
The Urgent Need for Policy Change
With Millennials and Gen-Z poised to become most of the electorate, the urgency for policy change cannot be overstated. Political parties must address the issues that matter most to these voters, or risk losing their support entirely.
Breaking the Two-Party System
Millennials and Gen-Z are also challenging the traditional two-party system. There is a growing trend among these voters to support Independent and minor party candidates who better align with their values and priorities. This shift could lead to a more diverse and representative political landscape, breaking the dominance of the major parties.
Using Australia’s Monetary Sovereignty
One solution lies in using Australia’s monetary sovereignty. By using the nation’s ability to create its own currency, the government can implement policies that directly address housing affordability and economic instability. This includes large-scale investments in affordable housing, infrastructure, and job creation programs.
Housing Affordability Reforms
To address housing affordability, the government could:
– Implement policies that limit property speculation and investor tax breaks.
– Increase funding for social and affordable housing projects.
– Offer incentives for first-time homebuyers, such as grants and lower-interest loans.
Economic Stability and Job Market Reforms
To enhance economic stability and improve job prospects for Millennials and Gen-Z, the government could:
– Invest in education and vocational training programs to equip young Australians with the skills needed for future industries.
– Promote fair work policies that ensure job security and fair wages.
– Support small businesses and startups to create new employment opportunities.
Promoting Independent and Minor Party Candidates
To break the two-party system and ensure more diverse representation, Millennials and Gen-Z can:
– Support and vote for Independent and minor party candidates who align with their values.
– Advocate for electoral reforms that make it easier for non-major party candidates to compete.
– Use social media and other platforms to raise awareness about the benefits of a more diverse political landscape.
Engaging Millennials and Gen-Z in the Political Process
To ensure their voices are heard, Millennials and Gen-Z need to be more engaged in the political process. This includes:
- Voting in elections and taking part in political campaigns.
- Joining or supporting advocacy groups that stand for their interests.
- Using social media and other platforms to raise awareness about key issues.
Summary
Millennials and Gen-Z have the potential to significantly change Australia’s future federal elections. By addressing key issues such as housing affordability, economic instability, and job market challenges, political parties can win the support of these influential demographics. Leveraging Australia’s monetary sovereignty to implement meaningful reforms and promoting Independent and minor party candidates will be crucial in achieving this goal.
Question for Readers
What policies do you believe would best address the concerns of Millennials and Gen-Z in Australia?
Call to Action
Join the conversation and share your thoughts on how Millennials and Gen-Z can shape the future of Australian politics. #Millennials #GenZ #AusPol #FutureOfPolitics
References
Australian Bureau of Statistics. (2021). “Home Ownership Trends in Australia.” Retrieved from: https://www.abs.gov.au
Grattan Institute. (2022). “The Job Insecurity Crisis.” Retrieved from Grattan Institute: https://grattan.edu.au
Australian Psychological Society. (2023). “Mental Health in Young Australians.” Retrieved from: https://www.psychology.org.au