Millennials are the first generation in 75 years whose living standards and disposable incomes are not improving on those of their parents, according to the Productivity Commission.

The Australia Institute executive director and economist Dr Richard Denniss told 3AW Breakfast hosts Ross and Russel past generations loaded up the costs on young people.

Press PLAY to hear his full breakdown of the generational wealth divide

“We’re kind of staring at this train wreck wondering how it happened when of course, this was the plan,” he said.

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