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The 14th Annual Warren Hogan Memorial Lecture took place on Wednesday 15 October 2025. This lecture series is designed to bring together leading thinkers to examine pressing public policy and economic issues, reflecting the late Warren Hogan’s enduring commitment to rigorous analysis, open debate, and the education of future economists. This year’s lecture was presented by one of Australia’s most respected and engaging economists, Chris Richardson. Richardson explored the federal budget as Australia’s national social compact. About the speaker Chris Richardson is a leading macroeconomist and founder of Rich Insight. He’s served at the Federal Treasury, the IMF, and held senior roles at Access Economics and Deloitte. A University of Sydney alumnus, he received the University Medal in Economics and was awarded the Centenary Medal for his contribution to public policy and economic debate. About the lecture series The Warren Hogan Memorial Lecture honours Professor Warren Pat Hogan (1929–2009), a reformer who modernised economics education and championed rigorous analysis and open debate. The annual lecture brings together leading thinkers to tackle pressing economic and policy issues. Chapters: 00:01 – Welcome and Acknowledgement of Country – Professor Stephen Whelan 01:25 – Lecture Introduction – Warren Hogan Jr 05:40 – Introducing the Speaker, Chris Richardson 07:15 – 2025 Warren Hogan Memorial Lecture – Chris Richardson 50:16 – Q&A 01:04:52 – Vote of Thanks – Professor Kalervo Gulson