What’s the best way to tackle issues of intergenerational unfairness between the young and old in Britain? The post-war baby boomer generation are often considered to be a ‘fortunate generation’. Benefiting from rising property values, gold-plated final salary pensions and career stability, it could be argued that this generation as a whole are approaching their retirement in a generally comfortable financial position. Of course this generalisation doesn’t apply to everyone in the baby boomer generation; a great many are not financially well-off in later life. But relative to the younger generation, commonly called ‘millennials’, there’s a strong case for saying that baby boomers are in a strong financial position.
Building a new generational contract for young and old
This 1,036 word blog post examines the latest proposal from the Resolution Foundation’s Intergenerational Commission, recommending the introduction of a £10,000 citizen’s inheritance at age 25. Written on 8th May 2018.