Monday 14 November 2022

Mortgaged millennials to bitterly cold boomers

Assessing the cost of living crisis across generations

Rising energy bills are with us and rising mortgage bills are on the way. While wages are falling far behind inflation, debates rage about whether benefits or the state pension should do the same. Older workers have not returned to the labour market post-Covid, while younger workers may suffer most from the unemployment rise the Bank of England now deems necessary. Britain is in the midst of a cost of living crisis that has many different components, with the result that its scale and nature varies across age groups depending on their jobs, assets and financial resilience.

What economic state were different generations in before the cost of living crisis? How will different age groups experience the current crisis and its various components? To what extent has the Government’s response to the crisis redistributed the costs and benefits fairly across generations? And what policies could help to ensure that both old and young people enjoy a brighter economic future?

The Resolution Foundation is hosting an in-person and interactive webinar to debate and answer these questions. Following a presentation of the key highlights from its annual Intergenerational Audit, carried out in collaboration with the ESRC-funded ‘Connecting Generations’, we will hear from leading experts on what these findings tell us about the economic state of different age groups and the challenges – and opportunities – facing policymakers in sharing the burden of the cost of living crisis fairly.

The event will be open for people to physically attend, alongside being broadcast via YouTube and the Resolution Foundation website. Viewers will be able to submit questions to the panel before and during the event via Slido.