Younger Generation Faces Wealth Inequality in UK
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Developing
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Sources · 7 independent
“almost no growth in incomes and wealth has become much more important. It means that the older generation has done relatively well, but the younger generation has done very badly. Social mobility has actually dropped because people are more dependent on inheritances and on support from their parents. And also, this lack of growth has really exacerbated, I think, the issues between the regions, London and the Southeast, still remain pretty well off by international standards, but most of the rest of the country has plummeted down international league tables in terms of their wealth and income.”
“It means that the older generation has done relatively well, but the younger generation has done very badly. Social mobility has actually dropped because people are more dependent on inheritances and on support from their parents. And also, this lack of growth has really exacerbated, I think, the issues between the regions, London and the Southeast, still remain pretty well off by international standards, but most of the rest of the country has plummeted down international league tables in terms of their wealth and income.”
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