Young people hit by spending squeeze as falling incomes and rising housing costs take their toll

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Incomes and Inequality, Intergenerational Commission

Young people have experienced the tightest squeeze on household spending since 2000 and now consume 15 per cent less than older working age people on items other than housing, according to a new report published today (Saturday) by the Resolution Foundation. The finding of a consumption ‘youth deficit’ is in stark contrast to common claims … Continued

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Millennials would rather have grown up in an earlier time

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Housing, Wealth and Debt, Intergenerational Commission

Britons across all age groups no longer believe that young people today will have a better life than their parents, with pessimism strongest among graduates and high earners, according to new analysis by Ipsos MORI for the Resolution Foundation published today (Saturday). The report, based on a survey of over 2,000 adults commissioned for the … Continued

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Main parties’ tax and benefit plans to hit younger generations hardest

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Intergenerational Commission, Tax and Welfare

The tax and benefit policies of the two main parties risk further straining the contract between generations by hitting younger working age families more than older generations, new analysis of the parties’ manifestos by the Resolution Foundation published today (Thursday) has found. Fairness between generations has emerged as a strong theme across both manifestos. The … Continued

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Millennial men earned £12,500 less than the generation before them by the time they hit 30

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Incomes and Inequality, Intergenerational Commission

  Millennial men are falling behind the generation before them in their early careers, reflecting a shift towards young men doing low paid work traditionally carried out by women, Resolution Foundation Director Torsten Bell will say in the annual Grigor McClelland lecture to Manchester Business School later today (Thursday). The lecture, on 21st century inequality, … Continued

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UK workforce’s longstanding ‘baby boomer dividend’ turns into a debt this year

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Housing, Wealth and Debt, Intergenerational Commission

Cost of Britain’s ageing society by 2060 will increase by equivalent of a 4p income tax rise without further action The UK’s non-working population will start to grow faster than its workforce for the first time outside of economic downturns since the early 80s this year, according to a new report published today (Tuesday) by … Continued

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The Intergenerational Commission’s first call for evidence is open

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Incomes and Inequality, Intergenerational Commission

Questions of fairness between the generations are currently high on the agenda, and for good reason. Today’s younger generations are finding it more difficult to get on the housing ladder, experience slower pay progression and much lower levels of pension saving in their jobs, and can expect less from the welfare state when they fall … Continued

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