K-12 Tax & Spending Climate: Rift grows between old and young

Chris Giles and Sarah Neville:  

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.

Posted by Jim Zellmer at March 21, 2012 3:46 AM
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