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The new RF intergenerational report is out! Quick chart thread. https://www.resolutionfoundation.org/app/uploads/2020/10/Intergenerational-audit-2020.pdf
COVID has really hit older people hard. Under 45s experienced no jump in excess deaths; it has all come from older cohorts. 2/n
So you can see why older people are really down about things. Younger people also seem down. What’s that about? 3/n
Young people have less space in lockdown (as well as less/no garden) 4/n
Younger people - and older people - have lost a lot of jobs. 5/n
Younger people have born the brunt of ongoing welfare cuts this year that have protected the elderly. 6/n
Recent cuts come on the back of yrs of benefit chgs that have boosted elderly incomes & cut younger incomes. 7/n
Such has been the chg in state emphasis that basic state pension will be c 2x unemployment benefits in mid-2020s from parity when Boomers were young. 8/n
So no surprise that Boomers spending has been ... booming. 9/n
And younger home-ownership levels at 25yo c 1/4 the levels seen in Boomers’ youth. 10/n
Tbh, impressed at how little intergenerational friction there is in UK politics. And that (primarily Labour-supporting) young maintain such a steadfast support for better-funding the NHS, given the proportion spent on the old. (For the avoidance of doubt, I’m with them.)
