Rift grows between young and old

Graham_Devon

For the first time in 50 years, young Britons embarking on their careers cannot expect to be any better off than their parents while those approaching retirement have never had it so good.

The stark generational rift emerging in Britain is highlighted by a Financial Times analysis showing that the real disposable household incomes of people in their 20s have stagnated over the past 10 years just as older households are capturing a much greater share of the nation’s income and wealth.

In spite of this financial squeeze on the young, George Osborne, the chancellor, who presents his third budget on Wednesday, continues to shelter older people from his austerity measures regardless of their income.

The data, which underpins government publications on living standards, takes no account of housing costs or wealth. Had it done so the results would have been even more dramatic, showing median living standards of people in their 20s have now slipped below those of people in their 70s and 80s.

http://www.ft.com/cms/s/0/7831bd68-6f56-11e1-b368-00144feab49a.html#axzz1pMTfdLgY

Always a contencious (sp) one around here!! Yet more evidence of the obvious however. This time the FT grabs it by the horns.

OECD also come to the same conclusion, when it comes to incomes, here:
http://www.ft.com/cms/s/0/8c6f4cc2-6f7f-11e1-b368-00144feab49a.html#axzz1pMTfdLgY

Rinoa

For the first time in 50 years, young Britons embarking on their careers cannot expect to be any better off than their parents

So, for 50 years young Britons could expect to be better off than their parents when embarking on a career.

Only difference is, I don't remember parents ever whinging about it.

Graham_Devon

Rinoa wrote: »

So, for 50 years young Britons could expect to be better off than their parents when embarking on a career.

Only difference is, I don't remember parents ever whinging about it.

Well I don't either. But then I don't really know any parents who have lesser aspirations for their kids than they do for themselves.

julieq

In China and India the reverse is true.

As the world economy rebalances and prosperity is shared, you can expect western standards of living to drop so that others can rise.

The fact that young people in China and India are prepared to fight like cornered rats for their share of the pie instead of working for peanuts to enrich lazy westerners, while we dumb down education and expect featherbedding in every aspect of our lives is also a point worth making.

Tines are changing. You may need to work for prosperity.

julieq

so much ENTITLEMENT

RenovationMan

julieq wrote: »

Tines are changing. You may need to work for prosperity.

I think this is the problem for the 'must have it now' generation. They want all the stuff they see in the celebrity magazines but don't seem to realise that you have to work hard for it.

The aim these days seems to be to get onto some reality TV show, swan around at red carpet affairs and pocket a million quid. Some of these people need a wake up call.

Going4TheDream

RenovationMan wrote: »

I think this is the problem for the 'must have it now' generation. They want all the stuff they see in the celebrity magazines but don't seem to realise that you have to work hard for it.

The aim these days seems to be to get onto some reality TV show, swan around at red carpet affairs and pocket a million quid. Some of these people need a wake up call.

To a point this is true, and whereas rising nations like China and India see people wanting a better life and going for it and making the most of education and placing a high value on it, we dont seem to do the same here, and yet we have access to free schooling to at least 16 here, yet many kids fail in school.

There seems to be a lot of expectation and not a lot of aspiration in this country.

Linton

PaulF81 wrote: »

Dont worry, revenge will be sweet when the boomers are too infirm to protect themselves from my generations revenge....

In 50 years time will those born today have the same attitude? Be careful for what you wish for!

RenovationMan

Jimmy_31 wrote: »

Not all the young expect everything handed to them on a plate.

When things come to a point where somebody has to dedicate their whole life to paying a massive mortgage out of a 5hit wage packet, thats when people start to say fcuk it, whats the point.

We are not in your day anymore.

When I had a 5hit wage packet, I rented with mates because I couldn't afford a house either. The difference seems to be that instead of spending all my waking hours on internet forums crying about how unfair it all is, I got off my backside and worked my way into a job that did paid enough so that I could afford a house.

It really does seem that people want to stay in low-paid dead-end jobs and yet still want to afford a house and a lifestyle that their parents could only dream of. If people want better things then they should work for it. If the job they have doesn't cut the mustard then they should get a better one.

It's not rocket science.

Graham_Devon

Shame the maturity went out of the window for all of you who worked so darn hard.

Jimmy_31

RenovationMan wrote: »

When I had a 5hit wage packet, I rented with mates because I couldn't afford a house either. The difference seems to be that instead of spending all my waking hours on internet forums crying about how unfair it all is, I got off my backside and worked my way into a job that did paid enough so that I could afford a house.

It really does seem that people want to stay in low-paid dead-end jobs and yet still want to afford a house and a lifestyle that their parents could only dream of. If people want better things then they should work for it. If the job they have doesn't cut the mustard then they should get a better one.

It's not rocket science.

Yeah you tell em renovation man.

I know a few lads on my estate who want a real apprentiship in the construction industry as they are sick of being put bull5hit courses and getting nowhere. They wont be getting an indentured apprentiship any time soon as they dont exist anymore.

The country has gone to 5hit so therefore lots of people are saying fcuk that for a game of soldiers im going down the other road.

Things just keep getting worse and worse in this country and the government are sitting there with their fingers crossed hoping that society accepts it, there is no longer any shame in choosing the benefit lifestyle because the working life route has got so bad.

The proud working man is now at the stage were he knows he is having the pi55 taken out of him by his own government.

Pride works both ways.