Younger people's pensions can't be sacrificed to keep rich boomers happy
It's time to means test the state pension
It’s good to be back writing after a while off — thank you all for your patience in waiting for the next article. For those kind enough to pay for a subscription, I have paused billing for the time being, and a standalone Himbonomics article will be forthcoming soon.
The experience of younger Brits increasingly resembles a game of Buckaroo, loaded up with extortionate housing costs, mounting student loans, and stagnant real incomes. How much more can my generation shoulder before the game is up for the Conservative Party and the country kicks back?
The latest saddle bag being eyed up for draping on the overburdened millennial mule is a faster increase in the state pension age rising to 68, with ex-ministers warning this will be necessary to make the pension triple lock promise affordable. When one in four pensioners live in households worth more than £1m, why is cutting back future entitlements to make current expenditure sustainable even being considered?
It might have escaped the attention of senior politicians, but raising the state pension age is not the only way to make it sustainable. Pensioner wealth, driven by housing that is now unaffordable to the young, has ballooned. Meanwhile, pensioner poverty has halved since the late 1990s – even as working-age and child poverty has barely shifted…
To read this full article on how there are more equitable ways to make the state pension affordable, please visit i News using the link here: https://inews.co.uk/opinion/younger-people-pensions-sacrifice-rich-boomers-2978690
And in case you missed it, I also penned another article for i News back in November that I didn’t post here at the time — ‘Michael Gove’s impossible housing dilemma.’ Its theme of finding the least frictional route to yes remains just as important now as it was then:
You can access it by clicking on the following link: https://inews.co.uk/opinion/michael-goves-impossible-housing-dilemma-2821522