In 2010 David Willetts published The Pinch, the first book to warn that younger generations in Britain were losing out to the baby boomers. Ten years on, Lord Willetts has revised and updated The Pinch, drawing on new evidence from the Resolution Foundation. The evidence is even more overwhelming – and the problem is more acute. Are the strains of generational equity healing or fracturing further in modern Britain? How are families responding to the tough economic climate facing millennials? And does a political system, dominated by Brexit, in which Labour and the Conservatives appeal to their young and old electoral bases respectively, risk driving up generational divides? To mark the launch of the second edition of The Pinch, Lord Willetts will be joined by the Editor of The Economist Zanny Minton-Beddoes to discuss generational equity in modern Britain. An audience Q&A will follow. Speakers Lord David Willetts President of the Resolution Foundation Zanny Minton-Beddoes Editor of The Economist

7. Cohort
Lifetime net
withdrawal
Cohort life
expectancy based on
2016-based
projections - England
and Wales (male and
female average)
Lifetime tax paid
based on years of life
and OBR tax curve
Lifetime welfare
receipt
Welfare dividend
1931 12% 79 903,000 1,016,000 113,000
1936 15% 81 915,000 1,050,000 136,000
1941 20% 83 926,000 1,112,000 186,000
1946 25% 84 931,000 1,162,000 231,000
1951 27% 85 936,000 1,188,000 252,000
1956 31% 86 941,000 1,231,000 291,000
1961 28% 87 945,000 1,213,000 268,000
1966 28% 88 950,000 1,216,000 266,000
1971 28% 88 950,000 1,212,000 262,000
1976 21% 89 954,000 1,154,000 200,000
1981 22% 90 958,000 1,169,000 210,000
1986 21% 90 958,000 1,161,000 203,000
1991 19% 91 962,000 1,142,000 180,000
1996 14% 91 962,000 1,095,000 132,000