Hub Podcasts Paul Kershaw on why we need a new deal for young people
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May 1, 2025 Join UBC policy professor Paul Kershaw, also the founder of Generation Squeeze, as he tackles the pressing financial struggles faced by millennials and Gen Z. He highlights the surprising shift of young voters leaning Conservative and argues that political priorities have long favored boomers. Kershaw emphasizes the urgent need for generational fairness, particularly in housing affordability and financial security. He also calls for a rethinking of policies to ensure a sustainable future, tackling issues like climate change with intergenerational accountability.
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Younger Canadians' Housing Struggle
- Younger Canadians face a lower standard of living despite hard work due to inflated home values protecting older generations' wealth.
- The notion that young people could afford rent by cutting small expenses is dismissed as nonsense.
Generational Economic Insecurities
- Older Canadians have financial security with low poverty and high homeownership, focusing political attention on retirement needs.
- Younger Canadians face multiple insecurities including housing costs, debt, and environmental challenges neglected by current politics.
Aging Population's Fiscal Impact
- Political responses shifted from investing in education to medical care as boomers aged.
- Aging population creates economic drag, leading to deficits as taxes weren't planned to fund healthy retirements adequately.