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Gresham College Lectures
The UK’s Generational Wealth Gap - Mike Brewer
Feb 28, 2025
Mike Brewer, Interim Chief Executive of the Resolution Foundation and Visiting Professor at LSE, dives into the UK's growing generational wealth gap. He discusses how household wealth has nearly doubled due to soaring house prices, but young people struggle with homeownership. Income stagnation since the mid-2000s has hit younger cohorts particularly hard. Brewer also explores recent shifts in generational wealth dynamics, suggesting that millennials are starting to improve their economic standing while proposing solutions for addressing systemic disparities in wealth distribution.
50:32
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Quick takeaways
- The increasing disparity in wealth between generations, fueled by rising house prices and stagnant wages, exacerbates social tensions and impacts living standards.
- High levels of wealth inequality not only hinder social mobility but also correlate with negative economic outcomes, highlighting the need for systemic reforms.
Deep dives
Understanding Inequality: Income vs. Wealth
The podcast discusses the distinction between income inequality and wealth inequality in the UK, arguing that the latter is more significant. While income inequality, as measured by the Gini coefficient, saw notable increases during the 1980s, it has remained relatively stable since the 1990s. However, wealth inequality presents a different picture, as household wealth has surged over the past 40 years, leading to pronounced disparities between generations. The growing divide in wealth ownership highlights the importance of examining wealth inequality, particularly as the wealthiest 1% hold a significant portion of total wealth in the country.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode