Making Money How do you fix inequality?
May 26, 2025
David Willetts, a Conservative Member of the House of Lords and President of the Resolution Foundation, dives into the pressing issue of intergenerational inequality. He discusses the increasing wealth gap between older and younger generations and suggests capping ISAs at £100k to assist low earners. Willetts also addresses the shortcomings of student debt systems and the need for reforms in property taxes to enhance equity. With witty anecdotes and insightful solutions, he champions a path toward financial fairness for future generations.
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Resolution Foundation's Focus on Fairness
- The Resolution Foundation focuses on improving living standards mainly for the less affluent half of the UK population.
- Their work highlights growing intergenerational unfairness impacting younger people disproportionately.
Living Standards Stalled Since 2008
- Since 2008, Britain's engine for improving living standards has faltered, leaving people largely no better off than two decades ago.
- The financial crash was a turning point causing long-term economic underperformance especially for low and middle earners.
Pensioner Benefits vs Families
- Policy choices shifted social security spending toward pensioners, increasing their benefits above inflation.
- This shift reduced support for working-age families, squeezing resources for children and younger generations.
