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1. Launch of the Intergenerational Commission Clive Cowdery, Resolution David Willetts, Resolution Foundation Ben Page, Ipsos MORI Carolyn Fairbairn, CBI Frances…
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  • 1. Launch of the Intergenerational Commission Clive Cowdery, Resolution David Willetts, Resolution Foundation Ben Page, Ipsos MORI Carolyn Fairbairn, CBI Frances O’Grady, TUC #intergenerational
  • 2. . Launch of the Intergenerational Commission
  • 3. Intergencommission.org 3
  • 4. The result of the EU referendum intensifies intergenerational debates Intergencommission.org 4 Voting in the EU referendum by age: UK, 2016
  • 5. And the new Prime Minister has put the issue centre stage Intergencommission.org 5 “There is a growing divide between a more prosperous older generation and a struggling younger generation… “…Unless we deal with the housing deficit, we will see house prices keep on rising. Young people will find it even harder to afford their own home. The divide between those who inherit wealth and those who don’t will become more pronounced” Theresa May, We can make Britain a country that works for everyone, July 2016
  • 6. The Commissioners Intergencommission.org 6 David Willetts, Executive Chair of the Resolution Foundation (chair) Vidhya Alakeson, Chief Executive of Power to Change Kate Barker, economist and former MPC member Torsten Bell, Director of the Resolution Foundation Carolyn Fairbairn, Director General of the CBI Geoffrey Filkin, Chairman of the Centre for Ageing Better John Hills, Professor of Social Policy at the LSE Paul Johnson, Director of the IFS Sarah O’Connor, Employment Correspondent at the Financial Times Frances O’Grady, General Secretary of the TUC Ben Page, Chief Executive of Ipsos MORI Nigel Wilson, Group Chief Executive of Legal & General
  • 7. The social contract as an intergenerational contract Intergencommission.org 7 “Society is indeed a contract…[the state] is a partnership in all science; a partnership in all art; a partnership in every virtue, and in all perfection. As the ends of such a partnership cannot be obtained in many generations, it becomes a partnership not only between those who are living, but between those who are living, those who are dead, and those who are to be born” Edmund Burke
  • 8. Stagnation Generation? . The case for renewing the intergenerational contract
  • 9. Millennials are at risk of being the first generation to record lower lifetime earnings than their predecessors Intergencommission.org 9 Median real weekly pay by age for each generation: UK (RPIJ-adjusted)
  • 10. Millennials are at risk of being the first generation to record lower lifetime earnings than their predecessors Intergencommission.org 10 Median real weekly pay by age for each generation: UK (RPIJ-adjusted)
  • 11. Millennials are at risk of being the first generation to record lower lifetime earnings than their predecessors Intergencommission.org 11 Median real weekly pay by age for each generation: UK (RPIJ-adjusted)
  • 12. Millennials are at risk of being the first generation to record lower lifetime earnings than their predecessors Intergencommission.org 12 Median real weekly pay by age for each generation: UK (RPIJ-adjusted)
  • 13. Lower levels of home ownership generate short-term disappointment and longer-term living standards challenges Intergencommission.org 13 Home ownership rates by age for each generation: UK
  • 14. Lower levels of home ownership generate short-term disappointment and longer-term living standards challenges Intergencommission.org 14 Home ownership rates by age for each generation: UK
  • 15. Lower levels of home ownership generate short-term disappointment and longer-term living standards challenges Intergencommission.org 15 Home ownership rates by age for each generation: UK
  • 16. Lower levels of home ownership generate short-term disappointment and longer-term living standards challenges Intergencommission.org 16 Home ownership rates by age for each generation: UK
  • 17. The redistributive welfare state is key, but too little consideration is given to how this plays out across generations Intergencommission.org 17 Change in annual net family income from tax and benefit policy being implemented in this parliament: UK, 2020-21
  • 18. Attitudes to house building are shifting – renewing the intergenerational contract is a shared challenge for our times Intergencommission.org 18 Proportion saying they would support more homes being built in their local area: UK
  • 19. Launch of the Intergenerational Commission Clive Cowdery, Resolution David Willetts, Resolution Foundation Ben Page, Ipsos MORI Carolyn Fairbairn, CBI Frances O’Grady, TUC #intergenerational
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