Britain’s policy-makers are more interested in helping the old than the young, or that at least is how it seems. For decades now they have been offering benefits to the elderly and piling debts onto future generations. Evidence is already beginning to emerge that the effects – on everything from crime rates to birthrates – are hugely damaging.
Too often the government has ignored the long-term implications of its decisions. Today in Britain 1.5 million people aged under 30 are unemployed. In the housing market the average age of a first-time buyer has risen to 37. And, while government attempts to rein in a vast public deficit, there are massive unfunded pension and healthcare liabilities which stretch long into the future. The Intergenerational Foundation believes these ills are not just the result of a financial crisis but of much deeper failings in British policy-making.
Affordable housing, well-paid jobs with prospects and fair taxes are the basics of a well-balanced society. The Intergenerational Foundation will provide ideas to ensure that the next generation get them. But we’ll do much more too:
How Britain handles its short-term deficit and long-term debts will be vital in the coming years. The Intergenerational Foundation will analyse the long-term implications of policies from the left and the right. That means we’re interested in how Britain will offer pensions and provides healthcare. We will also study the effects of demographic changes on British society and suggest improvements to create fairer, sustainable taxes and benefits that help to transform the lives of the next generation.
We will ensure that intergenerational issues are placed at the heart of public debate.