Chaired by Clive Bolton, ILC-UK Advisor, this seminar presents a range of perspectives on intergenerational relations, seeking to stimulate a debate that is better grounded in and informed by the available evidence.

1. A Research to Policy Seminar:
Intergenerational Relations in
Challenging Times
Thursday 27th September 2018
This event is kindly supported by Newcastle University's Institute for Ageing
@NCLAgeing @ILCUK #intergenerationalrelations

2. Welcome
Clive Bolton
ILC-UK Advisor
This event is kindly supported by Newcastle University's Institute for Ageing
@NCLAgeing @ILCUK #intergenerationalrelations

3. Thomas Scharf
FAcSS, Institute of Health & Society, and Newcastle
University Institute for Ageing
'Intergenerational Solidarity under
Threat? Perspectives from Ireland’
This event is kindly supported by Newcastle University's Institute for Ageing
@NCLAgeing @ILCUK #intergenerationalrelations

4. Outline
• Contextualising debates on intergenerational
relations
- Public discourse
- Research perspectives
• Changing Generations project in Ireland
(2011-2013)
- Research questions
- Methods
• Selected findings from interviews with
‘ordinary’ citizens and with ‘powerbrokers’
• Four key messages for research and public
policy

5. Intergenerational relations under
the spotlight

6. Intergenerational relations:
research perspectives
Structural
Associational
Affectual
Consensual
Normative
Functional
Public
Private
Public Private
Family-level Solidarities Public and Private
Solidarities
(Bengtson and Roberts, 1991)

7. Changing Generations
Broad aim:
Through research, to inform citizens, policy makers and
stakeholders and to facilitate dialogue in the interests of
fostering intergenerational justice in Ireland
Research questions:
• How do people of different ages in Ireland think about and
practice intergenerational solidarity?
• How do people across and within generations help each
other out in everyday life?
• What is the inter-relationship between solidarity at family
and societal levels?
• Is age/generation a source of conflict in Irish society?
• Do ‘ordinary’ people and ‘powerbrokers’ share similar
views about intergenerational solidarity in Ireland?

8. Research methods: Interviews
100 ‘ordinary’ people
Tell me about the help and
support, if any, you are
receiving from [and giving
to] other people now … in the
past… in the future
In what ways do you think that
you are contributing to Irish
society?
What do you see yourself
receiving from the State?
Do you think the State has got
the balance right in sharing
resources across different
generations? What could
change?
20 ‘powerbrokers’
Key positions of influence
Public, private and civil society
sectors
Regarding intergenerational
solidarity, asked about their:
o Agenda
o Views
o Role

9. ‘Ordinary’ people sample
SES Men (N = 46) Women (N = 54) Totals
18-25
years
26-50
years
51-74
years
75+
years
18-25
years
26-50
years
51-74
years
75+
years
High 4 5 8 3 1 10 3 2 36
Middle 1 4 3 2 4 5 3 5 27
Low 6 4 5 1 6 6 4 5
37
Totals 11 13 16 6 11 21 10 12 100

10. Civil Society Sector Private Sector Public Sector
Head of trade union Head of business
confederation
Former university president
President of Christian
charity
Head of multi-national
corporation
Former prison governor
Religious leader Veteran entrepreneur Former Taoiseach
President of students’
organisation
Young entrepreneur Research professor
President of youth
movement
Former editor of daily
national newspaper
Former head of national
agency
Director of theatre
company
Assistant Secretary
General of government
department
Director of older people’s
organisation
Judge
Head of older people’s
NGO
8 5 7
‘Powerbrokers’ sample

11. Strong inter-generational solidarity
• Deservingness of older people, arising from life-
long contributions, featured prominently; but also
additional justifications (lack of life chances in the
past; expense of medical care)
• The idea of taking from one generation in the
interest of another barely featured (exception: the
very well-off)
• Pitting generations/age groups against each other
in media, policy discussion or research poses
choices that are not ‘real’ – but rather reflect crude
and uninformed notions of solidarities/conflict

12. Cross-generational solidarity
Noelle, Teenager, Middle SES,
Retail Worker
“[Older people] get the pensions but
they work[ed] for it, it is their money.
... They have worked all their lives.
... They should be able to sit back
and have no financial worries. ...
Anyone over seventy ... they
deserve a medical card in case
anything ever did go wrong. ... If
they didn’t have that, all their money
would go on treatment. I think
everyone should be entitled to a
medical card over seventy.”
Tommy, 70+, Middle SES,
Retired Public Sector Worker
“It is an old cliché, but it will cost
more at the end of day if
[disadvantaged] kids are not
looked after properly...inner city
and rundown areas...need extra
help. That is where the big effort
should be to eradicate a lot of that
old stuff and try to bring everyone
up a bit...I think it is terrible to see
that they were going to cut down on
teachers in those areas... [Helping
children and young people in
deprived areas] would be my
priority.”

13. Family as key site of solidarity
• Family a central, and in some cases the most important,
‘shock absorber’ for those affected by the recession
• Examples:
- ‘quick loans’ between family members
- extensive childcare by grandparents
- adult children moving back into parental homes
- parents financing setting up of home
- support and care-giving to elders
• People without a family network found imagining a positive
future for themselves more difficult
• But participants’ views were strongly patterned by social
class and income or wealth
 Intergenerational solidarity kept families in Ireland
afloat during economic recession

14. Class shaping intergenerational
relations across the life course
• Children in poor families
witness hardship and want
to help
• Young people of lower
socio-economic status often
closing down options, e.g.
education or travel, that are
taken for granted by their
better-off peers
• They expressed
commitment to ‘stay close
by’ to be a supportive
resource to their family
Stacey, Teenager, Low SES,
Unemployed
“I have come home nights and
listened to my mother crying over
money…I just see her struggling
so much like…I get paid [social
welfare] the Tuesday and she gets
paid on a Thursday, so if we are
going shopping and she runs low
or anything I just give her a few of
my bob and then she will give it
back to me on the Thursday. We
help each other out that way. But it’s
not actually [me giving], because
she is giving it back to me.”

15. Intergenerational relations at
community level
• Also shaped by gender
• Men tended to volunteer in
organisations involved in
‘giving’ in a public,
organised or
‘institutionalised’ way,
particularly sports clubs
• Women tended to have
been involved in care giving
within the extended family
or at community level, for
instance for neighbours or
through meals-on-wheels
Jimmy, 65-70, Middle SES,
Public Sector Worker
“There is nothing better than
bringing a lad in. He walks in
and he can hardly put one foot in
front of another and then you see
him twelve months later and he
can stand up [tall] …. a lot of
them will have self-esteem
problems. … I would give them
the benefit of my experience.
Not just as a [sports] coach and
all but as a person …”

16. Unfairness located elsewhere
Locus of perceived unfairness seen as lying
outside the intergenerational sphere.
Directed at two different groups:
1. Politicians and (highly paid) public sector
workers
2. Recipients of some welfare benefits
Conflict and perceived unfairness as
‘inter-sectoral’ and ‘inter-class’
NOT ‘inter-generational’

17. Powerbroker perspectives
Need for greater public
awareness of:
• Inter-generational solidarity
across the life course and
demographic ageing
• Individuals needing to plan
for their own future but also
recognition that the State
could do more
Head of Trade Union
“There is a distributional
settlement to be achieved
between people who are still
working and people who are
retired... There is a huge social
crisis about to unfold I would
say in relation to the pensions
system.”
Head of Multi-national
Corporation
“Private and public debt and that’s
different from the [1980s] because
it doesn’t just go away…I can’t
really think of another developed
country where that has been the
case ... That’s a really, really big
weight around our necks.”

18. • Intergenerational solidarity to
play a key role in shaping
Ireland’s future
• Decisions taken during the
crisis period to impact on
future generations
• However, no evidence of
conflict between generations
in interviews either with
‘powerbrokers’ or with
‘ordinary’ people living in
Ireland
• Cleavages residing in other
spheres, e.g. trust in
politicians
Director of NGO
“Whilst we think of trust in
interpersonal terms, in actual
fact in terms of a functioning
society, trust between
citizens and politicians,
between institutions and the
individuals those
institutions are supposed to
serve is what’s been most
undermined in recent
times.”
Powerbroker perspectives

19. Four key messages
Key Message 1
Little evidence in Ireland of
inter-generational conflict,
either within private or public
spheres (in 2011-2013)
Key Message 2
Considerable evidence that
inter-generational solidarity
within families helped people
in Ireland survive recession
Key Message 3
Socio-economic inequality, not
intergenerational difference, a
more significant cleavage
between groups in Ireland
Key Message 4
Commentators and policy
makers should think twice
before making case for actual
or impending conflict between
generations in Ireland

20. Further reading
Conlon, C. et al. (2015) ‘Emergent
reconstruction’ in grounded theory: learning
from team-based interview research,
Qualitative Research 15, 1: 39-56
Carney, G. et al. (2014) ‘Blessed are the
young, for they shall inherit the national debt’:
solidarity between generations in the Irish
crisis, Critical Social Policy 34, 3: 312-32
Scharf, T. et al. (2013) Changing Generations:
findings from new research on
intergenerational relations in Ireland, Galway:
ICSG and Dublin: SPARC
Conlon, C. et al. (2014) Women (re)negotiating
care across family generations, Gender &
Society 28, 5: 729-51
Timonen, V. et al. (2013) Family, state, class
and solidarity: re-conceptualising
intergenerational solidarity through the
grounded theory approach, European
Journal of Ageing 10, 3: 171-9

21. Dr. Suzanne Moffatt,
Dr Josephine Wildman,
Research Associate,
Institute of Health and Society Newcastle
University
‘Intergenerational relations in turbulent
times: narratives from Scotland and
North East England during austerity’

22. Intergenerational equity in austere times:
narratives from Tyneside and Edinburgh
Suzanne Moffatt, Josephine Wildman, Anna Goulding, Thomas Scharf
& Alison Stenning
International Longevity Centre - UK
Research to Policy Seminar, September 27,
2018
Study funded by Newcastle University Institute of Ageing
and Newcastle University Institute for Social Renewal

23. Intergenerational (un)fairness is…
“the great new frontier in economic and social policy making, in which age-
group cleavages are perceived as having new and perhaps primary
significance”
(Alexander Shaw, Foundation for European Progressive
Studies Report, 2018)

25. The intergenerational equity debate is a
conversation about, not with, people.
(Alexander Shaw, 2018)

26. Research aim
To explore intergenerational relations across the life course in Edinburgh
andTyneside in the ‘age of austerity’ and post-’Brexit’

27. Tyneside (N=24) Edinburgh (N=16)
Age range 19-81 23-85
Men 7 5
Women 17 11
Household income 11 6
Private renters 7 4
EU Referendum 21 (Remain) 0 (leave) 3
(other)
13 (remain) 3 (leave)
Scottish Independence
Referendum
Yes (leave) 10
No (remain) 6
Selected Participant characteristics

28. Themes
1. Fragile state of the intergenerational social contract
2. Political becoming personal within families
3. Assigning blame and seeking solutions

29. Themes
1. Fragile state of the intergenerational social contract
2. Political becoming personal within families
3. Assigning blame and seeking solutions

30. The state of the intergenerational social contract
• Widely-shared sense of a “scary” future
I’m 36.Why have I not got a private pension? That’s scary. But I am paying my
National Insurance Contributions. Come on government!That’s so naïve though,
isn’t it? That’s so naïve. It’s not going to be there. There’s going to be nothing.
(Isla, 36, Edinburgh)

31. Sites of vulnerability
I think that lack of support to probably the 16 to 35 age group is
gigantic – whether that’s in benefits, tax breaks, minimum wage,
access to further and higher education, access to decent paid,
secured jobs, housing, you name it. I think they are disproportionately
affected in the most negative way.
(Edith, 58, Edinburgh)

32. “…a prolonged adolescence”
That’s the age, there’s no way anymore that you’re supposed to be a child at all,
you’re supposed to be an adult in charge of your responsibilities and doing things.
Actually, in the type of society which we live in, that’s not really possible anymore. It
seems like there’s a whole load of expectations about what young people are or
should be or should be aiming towards and actually for the vast majority, [it] is not
attainable.”
(Alex, 23, Edinburgh)

33. Themes
1. Fragile state of the intergenerational social contract
2. Political becoming personal within families
3. Assigning blame and seeking solutions

34. Political becoming personal
… very well-padded as a generation … we are going to be far less
catered-for as an older generation than our parents have been …
And, yes, I’m a bit annoyed about it … Every time my parents
mention, “Oh, our pensions.Oh we don’t’ get much” I get a wee bit
annoyed because it’s like, well, we’re going to have even less.
(Isla, 36, Edinburgh)
[I feel] a bit angry in some ways, but only because I’ve seen my parents’
generation be able to do it … but it does get your goat a little bit … we
work as hard, we’re going to work longer and we’re not going to get as
much as the previous generation did and they didn’t do any more than
we have.
(Ben, 50,Tyne andWear)

35. Political becoming personal
… you resent it … there is a resentment there … you don’t count the
pennies when it’s your kids, but you always know that you’re
struggling
(Alice, 56,Tyne and Wear)

36. A ‘symbolic threat’ from the ‘Brexit generation’
… it's been a massive bone of contention with my parents because they voted
to leave and, yes, it's caused quite some ill feeling …
… I think my parents just thought, “Well we’ll have less foreign people in this
country if we vote out.” I think they’ve got quite some old-fashioned views on
that, whereas I quite like all the diversity …They’re not keen on foreign people
being in their country and I think that’s a real shame. We've had so many
arguments about it.
(Ingrid, 41,Tyne and Wear)

37. Themes
1. Fragile state of the intergenerational social contract
2. Political becoming personal within families
3. Assigning blame and seeking solutions

38. Who is to blame?
The “social ignorance” (Grace, 58,Tyne and Wear) of a remote state
…you can’t take all the population as one model, with the same money.Things
are not the same for each group.
(Callum, 76, Edinburgh)
… need to look at the real picture rather than just seeing that the older generation
are older, so they need this. Realising what zero-hour contracts and temporary
contracts and apprenticeship wages actually means in real-life terms …
(Colin, 26,Tyne and Wear)

39. What is the solution?
I would like Scotland to have independence … I would like all different
parts of the country to have their independence. I think there are too
many decisions made by London. I don’t think they realise how
difficult it is for some people, I really don’t. They’re not living the lives
that our people are living here and other parts of the country.
(Clare, 53, Edinburgh)

40. What is the solution?
• More social spending on all age groups
• Closer communities
… there was the whole thing of people being really cross that older people were
allowed to vote because they’re in the last bit of their life and leave us to pick up
the pieces, but I do think there’s an issue with ‘them and us’ as well.We’re all
people together and I think maybe if there was a little bit more mingling between
the generations, we’d just see each other as people … and maybe it would
actually help people to understand each other a bit better as well.
(Florence, 29,Tyne andWear)

41. ‘Familial welfare state’ is not the
solution
… we’re basically working class, almost poverty-
like, people, my property is what’s going to save
me from the work house. My son’s not going to
have that. He’s not going to inherit, because I
have to live on it. But he can’t get on the
housing ladder … my heart breaks for him
because there’s no money in our family.
(Grace, 58,Tyne and Wear)
Norman Lamont, Daily Mail, 19 October 2017

42. Conclusions
• An awareness of the “alternative causal stories” beyond
intergenerational inequity (Alexander Shaw, 2018).
• Older generations not the focus of blame, rather blame was
attributed to ‘socially ignorant’ policy choices.
• Far from supporting the ‘rolling back’ of the state, participants
favoured collective mutually-beneficial solutions, particularly
through strengthened intergenerational communities.
• Risk of increasing inequalities thorough an over-reliance on the
‘familial welfare state’ for those whose families are unable or
unwilling to support them.

43. • Call for ‘New Generational
Contract’ (Resolution
Foundation, 2018) suggests the
plight of the young may be
becoming harder for policy
makers to ignore.
• The wide-spread perception of
young people in crisis (a
‘sacrificed generation’) might
indicate the arrival of a
transformative breaking point
point – the moment at which
which things are forced to
change (Alexander Shaw, 2018).

44. A ‘youth-quake’*?
Politicians are starting to realise that we are an untapped source of potential
votes … just the fact that we are quite loud, generally, as a generation. We are
protesting. We have got a massive online presence, which is definitely starting
to come to the forefront of politics. Since all of us are on social media, we are
signing online petitions and sharing them everywhere. That is what is really
starting to get people’s attention.
(Luke, 19, student,Tyne and Wear)
*youth-quake (noun): a significant cultural, political, or social change arising from the actions or influence of young people.

45. Fahmida Rahman
Researcher
The Resolution Foundation
‘Towards a new generational contract’
This event is kindly supported by funder
#tag

46. .
A new generational contract
.
Fahmida Rahman
27 September 2018
@fahmidarahman @resfoundation

47. 47
Pay has fallen back, with millennials hit the hardest…
Median real weekly employee pay (CPIH-adjusted to 2017 prices), by age and cohort: UK, 1975-2017
Notes: See notes to Figure 2 in: L Gardiner & P Gregg, Study, Work, Progress, Repeat? How and why pay and progression outcomes have differed across cohorts,
Resolution Foundation, February 2017
Source: RF analysis of ONS, Labour Force Survey; ONS, Annual Survey of Hours and Earnings; ONS, New Earnings Survey Panel Dataset

48. 48
The structure of the labour market has changed…
Proportion of those in employment working part time, by age, sex and generation: UK, 1992-2017
Notes: Data are smoothed using a three-year rolling average over the age range.
Source: RF analysis of ONS, Labour Force Survey

49. 49
…today’s young adults are bearing more risk than previous
generations…
Self-employment as a share of all employment, by age and educational attainment: UK
Notes: Data are smoothed using a three-year rolling average over the age range.
Source: RF analysis of ONS, Labour Force Survey

50. 50
…and they are moving jobs less frequently, with implications for
their pay
Proportion voluntarily moving from one job to another each year, by age and generation: UK, 1992-2017
Notes: Data are smoothed using a three-year rolling average over the age range.
Source: RF analysis of ONS, Labour Force Survey

51. A £1 billion ‘Better
Jobs Deal’
A right to regular hours for those on zero-hours
contracts; minimum notice periods for shifts
£1.5 billion for
technical education
Making work more
secure
Avoiding lasting
damage from the crisis
Restarting skills
progress
Reducing jobs market risks and restarting progression
funded by
cancelling
1p of 2020
corporation
tax cut

52. 52
Housing

53. 53
There have been huge generational declines in home ownership…
Home ownership rates, by age and generation: UK: 1961-2017
Notes: See notes to Figure 3 in: A Corlett & L Judge, Home Affront: Housing across the generations, Resolution Foundation, September 2017
Source: RF analysis of ONS, Family Expenditure Survey; ONS, Labour Force Survey

54. 54
…meaning more and more people are renting in the private
sector…
Rates of private renting, by age and generation: UK, 1961-2017
Notes: See notes to Figure 10 in: A Corlett & L Judge, Home Affront: Housing across the generations, Resolution Foundation, September 2017
Source: RF analysis of ONS, Family Expenditure Survey; ONS, Labour Force Survey

55. 55
And they are paying more for the ‘privilege’…
Proportion of net income spent on housing costs, by generation: GB, 1961-2016
Note: This analysis refers to households, not families as in our analysis of tenure. See notes to Figure 20 in: A Corlett & L Judge, Home Affront: Housing across the
generations, Resolution Foundation, September 2017
Source: RF analysis of IFS, Households Below Average Income; DWP, Family Resources Survey

56. Replace council tax with a progressive property
tax with surcharges on second and empty
properties raising an additional £5 billion
Indeterminate tenancies; and limit rent increases
to inflation for three-year periods
Halve stamp duty at a cost of £2.7 billion set
against new property tax; and a time-limited
capital gains tax cut for sales to first-time buyers
Reducing insecurity
Rebalancing demand
Increasing supply
Providing immediate security while addressing our housing crisis
Community land auctions; and a £1.7 billion
building precept

57. 57
Pensions

58. 58
Average pensioner incomes are now higher than working-age
incomes…
Real household net annual income after housing costs (CPI-AHC-adjusted to 2017 prices), by life stage: UK
Notes: ‘p20’ refers to incomes at the 20th percentile within each age group; ‘p80’ refers to incomes at the 80th percentile within each age group. Dotted lines
show 2016-17 nowcast. Incomes are equivalised to account for differences in household size. See notes to Figure 1 in: As good as it gets? (Intergenerational
Commission report 12)
Source: RF analysis of DWP, Family Resources Survey; RF nowcast

59. 59
But younger cohorts are likely to loose out from the new State
Pension reforms
Impact of the new State Pension reforms compared to the system they replaced across life in retirement, by
year of birth: UK, 2020-60
Source: RF analysis of DWP, Impact of new State Pension (nSP) on an individual’s pension entitlement – longer term effects of nSP, January 2016

60. 60
The success of ‘auto-enrolment’ is cause for optimism…
Occupational pension scheme membership among male private sector employees, by age and cohort: GB,
1997-2016
Source: RF analysis of ONS, Annual Survey of Hours and Earnings

61. 61
… but in a DC world the saver bears all the risk
Longevity
Investment returns
two-in-five chance that two men
aged 65 today live to ages at least 10
years different to one another
A reduction in the RoR modelled on the
previous slide by 1ppt (from 3.6% to 2.6%)
causes annual pension income to fall by 8%

62. Flatten pensions tax reliefs
Auto-enrolment for low earners and
the self-employed
A legislative framework for new ‘collective
defined contribution’ pensions to better share risk
Increasing saving
Sharing risk
A default track to a guaranteed later life income
Reducing risks around younger generations’ pensions

63. 63
The big picture

64. 64
Generational income progress has stalled, and the young were hit
the hardest…
Median real household annual net income after housing costs (CPI-AHC-adjusted to 2017 prices), by
generation: GB, 1961-2016
Notes: Incomes are equivalised to account for differences in household size. See notes to Figure 2 in: A Corlett, As time goes by: Shifting incomes and inequality
between and within generations, Resolution Foundation, February 2017
Source: RF analysis of IFS, Households Below Average Income; DWP, Family Resources Survey

65. 65
… and changes to the benefit system have added to problems
Mean change in annual net family income from tax and benefit policy changes implemented during the
current parliament, by age: 2022-23
Notes: Income is measured before housing costs, and expressed in cash terms. See notes to Figure 1 in: G Bangham, D Finch & T Phillips, A welfare generation:
Lifetime welfare transfers between generations, Resolution Foundation, February 2018
Source: RF analysis using the IPPR tax-benefit model

66. 66
Wealth is increasingly held by older generations
Proportion of total household wealth and population by generation, 2014-16
Notes: Excludes physical wealth.
Source: RF analysis of ONS, Wealth and Assets Survey

67. 67
…and wealth gaps within cohorts are rising
Percentiles of real family total net wealth per adult (CPIH-adjusted to 2017 prices), by cohort: GB, 2006-2016
Notes: Excludes physical wealth. ‘p25’ refers to incomes at the 25th percentile within each age group; ‘p50’ refers to incomes at the 50th percentile (the median)
within each age group; ‘p75’ refers to incomes at the 75th percentile within each age group.
Source: RF analysis of ONS, Wealth and Assets Survey

68. Lift the benefits freeze a year early, uprating
working-age benefits in line with inflation
in April 2019
A £10,000 ‘citizen’s inheritance’ to be spent on
housing, pensions, education & training or
entrepreneurship, set against lifetime receipts tax
A tax system fit for the
21st century
Restoring the idea of
asset accumulation
Boosting security today and preparing for tomorrow’s challenges
Rebalancing
the welfare state
Abolish inheritance tax and replacing it with a
lifetime receipts tax, raising an additional
£5 billion from wealth taxation

69. 69
Not just about the young...

70. 70
The transition of the large baby boomer generation into old age
is accelerating population ageing…
Ratio of non-workers to workers: UK, 1961-2066
Notes: Estimates do not take account of the impact of Brexit on employment levels or the population. Any large-scale impact on employment levels is likely to be
temporary and this analysis looks to highlight long-term trends.
Source: Resolution Foundation analysis using: Bank of England, Three centuries of macroeconomic data; ONS, 2014-based mid-year population estimates; ONS,
2014-based population projections; OBR, Economic and Fiscal Outlook, March 2016; OBR, Fiscal Sustainability Review, June 2015

71. 71
…putting pressure on public spending
Historic and projected welfare spend as a proportion of GDP: UK
Notes: Data for years prior to 1966 are presented as five-year rolling averages. Total spend is based on the categories used in Hills (2004), so does not map
precisely to HM Treasury and Office for Budget Responsibility totals.
Source: RF analysis of OBR, Fiscal Sustainability Report – January 2017, January 2017; HMT, Public Expenditure Statistical Analyses; J Hills, Inequality and the State,
Oxford University Press, October 2004

72. 72
Cutting welfare provision would represent a breach of the
generational contract – it’s a key worry in Britain…
• Cutting health and care provision would hit older
generations at a stage of life when it is difficult to
adapt
• Turning to the usual taxes on income and
consumption would bear down on millennials first
• Increasing debt would just pass the costs on to
younger generations and those not yet born

73. 73
Instead, consider that wealth taxation has not kept up with the
growth and ‘ageing’ of Britain’s wealth
Aggregate wealth and wealth-related taxes as proportions of GDP: GB/UK
Notes: Total household net wealth covers Great Britain; tax and GDP data cover the UK. See notes to Figure 1 in: Home affairs (Intergenerational Commission
report 18)
Source: RF analysis of ONS, Wealth in Great Britain; ISER, British Household Panel Survey; ONS, UK National Accounts; D Blake & J Orszag, ‘Annual estimates of
personal wealth holdings in the United Kingdom since 1948’, Applied Financial Economics, 9, 1999; OECD.Stat

74. Increase public funding by 2.3 billion, raised
through reformed property taxation
A £2.3 billion ‘NHS levy’ via National Insurance
on the earnings of those above State Pension
age and limited National Insurance on
occupational pension income.
Sustaining the NHS
Breaking the deadlock
on social care
Funding health and care services in a generationally fair way
Increase property-based contributions towards
care costs, but with asset floors and cost caps so
that no more than a quarter of assets can be
depleted

75. .
A new generational contract
.
Fahmida Rahman
20 June 2018
@fahmidarahman @resfoundation

76. Panel Debate and Q&A

77. A Research to Policy Seminar:
Intergenerational Relations in
Challenging Times
Thursday 27th September 2018
This event is kindly supported by Newcastle University's Institute for Ageing
@NCLAgeing @ILCUK #intergenerationalrelations