This paper discusses Australia's current and future educational challenges. There are currently a concerning number of children and young people who do not fulfil their potential and miss out on opportunities. Results on national assessments show that the equity gaps between the most, and least advantaged students continue to grow. Australian students’ academic performance on key international assessments also reveal large social gaps which have not declined over time. To date, efforts towards education system improvement have not delivered the desired results. And the opportunities offered, and outcomes achieved by Australia’s education system are far from fairly or evenly distributed. The authors conclude that Australia’s education systems have failed to take the appropriate actions to address these issues.