My generation should repay its good luck
Whatever the sacrifices my parents and grandparents made for us, we do not intend to display similar generosity, writes John Kay
For the first time in 50 years, young Britons embarking on their careers cannot expect to end up better off than their parents while those approaching retirement have never had it so good, according to research by the FT
Data show that the downturn is hitting young people much harder than the old, as fears grow that today’s income squeeze might be causing lasting damage
Retired households see disposable funds nearly treble in 35 years while cash for working families doubles Office for National Statistics data show
Economists and social policy experts said that an increase in tax still left them in a very favourable position
This interactive graphic shows the median disposable UK household income, grouped by the age of the head of the household.
Whatever the sacrifices my parents and grandparents made for us, we do not intend to display similar generosity, writes John Kay
To listen to Britain’s present debate about equity between the generations is to be swept up in half-truths and distortions, writes Philip Stephens