The Tories are denying the dream of owning a home to the young, and that’s why I’m quitting politics ✍️ RyanShorthouse for ipaperviews
We need bold public policy to arrest this intergenerational inequality, starting with tax reform. Those of pension age, even those working, do not pay national insurance on their income. Younger millennials also face high marginal tax rates thanks to their student loan repayments.
, which the Bank of England argues is partly responsible for rising inflation. Considering the rise in healthy life expectancy, this is an absurd trend. There are many factors at play for this, including access to generous financial windfalls thanks to new pension freedoms – which allow those aged 55 or over to receive lump sum payments from their pension savings – as well as cashing in on the huge uplift in the value of houses when downsizing.
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