intergenerational commission launch slides

Launch of the Intergenerational

CommissionClive Cowdery, Resolution

David Willetts, Resolution FoundationBen Page, Ipsos MORICarolyn Fairbairn, CBIFrances O’Grady, TUC

#intergenerational

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Commission

Intergencommission.org 3


The result of the EU referendum intensifies intergenerational debates

Voting in the EU referendum by age: UK, 2016


And the new Prime Minister has put the issue centre stage

“There is a growing divide between a more prosperous older generation and a struggling younger generation…

“…Unless we deal with the housing deficit, we will see house prices keep on rising. Young people will find it even harder to afford their own home. The divide between those who inherit wealth and those who don’t will become more pronounced”

Theresa May, We can make Britain a country that works for everyone, July 2016


The Commissioners

David Willetts, Executive Chair of the Resolution Foundation (chair)Vidhya Alakeson, Chief Executive of Power to ChangeKate Barker, economist and former MPC memberTorsten Bell, Director of the Resolution FoundationCarolyn Fairbairn, Director General of the CBIGeoffrey Filkin, Chairman of the Centre for Ageing BetterJohn Hills, Professor of Social Policy at the LSEPaul Johnson, Director of the IFSSarah O’Connor, Employment Correspondent at the Financial TimesFrances O’Grady, General Secretary of the TUC Ben Page, Chief Executive of Ipsos MORINigel Wilson, Group Chief Executive of Legal & General


The social contract as an intergenerational contract

“Society is indeed a contract…[the state] is a partnership in all science; a partnership in all art; a partnership in every virtue, and in all perfection. As the ends of such a partnership cannot be obtained in many generations, it becomes a partnership not only between those who are living, but between those who are living, those who are dead, and those who are to be born”

Edmund Burke

Stagnation Generation?.

The case for renewing the intergenerational contract


Millennials are at risk of being the first generation to record lower lifetime earnings than their predecessors

Median real weekly pay by age for each generation: UK (RPIJ-adjusted)


Lower levels of home ownership generate short-term disappointment and longer-term living standards challenges

Home ownership rates by age for each generation: UK


The redistributive welfare state is key, but too little consideration is given to how this plays out across generations

Change in annual net family income from tax and benefit policy being implemented in this parliament: UK, 2020-21


Attitudes to house building are shifting – renewing the intergenerational contract is a shared challenge for our times

Proportion saying they would support more homes being built in their local area: UK


CommissionClive Cowdery, Resolution

David Willetts, Resolution FoundationBen Page, Ipsos MORICarolyn Fairbairn, CBIFrances O’Grady, TUC

#intergenerational

intergenerational commission launch slides

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