Paterson Says Timing of PM’s AI Hack Disclosure Not a Coincidence; Gen Z Cuts Spending for Housing
Paterson said the timing of the prime minister’s AI hack disclosure was not a coincidence and linked it to a political agenda in New York City. Cotality data reported by AAP showed more than 75% of Australians are curbing spending to buy property, with Gen Z most willing to cut back.
Paterson said that in terms of the nature of the potential actual security breach, the matter was at the bottom end of the spectrum of seriousness. He added: “I don’t think it was a coincidence. I think it neatly dove-tailed with the political agenda the prime minister has in New York City.” The remarks appeared in The Guardian’s Australia news live blog.
Separately, Cotality data reported by AAP showed that Australia’s Generation Z is the generation most willing to cut spending sharply to afford a home. More than 75% of all Australians were curbing their outgoings in pursuit of property, compared with Canadian, US and UK peers for whom the figures sat below 70%.
For many Australians, the sacrifices involve delaying things such as going away or reducing expenses such as dinners out, according to the report. People are leaving where they want to live and buying in cheaper markets. People are being conservative and cautious, the report said.