Some generations have it better than others, even if they do not always like to admit it. Those who are now at retirement age will have benefited most of all
Save time by listening to our audio articles as you multitaskIf the ravages of time were not bad enough, then the iniquities of British society make things worse. Life is pretty tough for the generation sinking into their middle years. It is a time when people are supposed to be kicking on with their careers, rearing children and, often, caring for ageing parents. But it is also a time when housing andcombine with uneven taxes and an unbalanced welfare state to create a miserable period.
Unfortunately, Britain has among the most expensive child care in the world. British parents spend between a quarter and a third of their income, depending on how it is measured, on paying other people to look after the sprogs. The government has parked plans to give parents more free child care, along with a scheme to reduce required staffing ratios in a bid to make it cheaper.
Every generation thinks they have it rough. Someone with a mortgage during the early 1990s may have struggled with rocketing interest rates . Houses may have been cheap in the 1960s, but petrol had lead in it, men dropped dead in their 60s and women could not open a bank account in their own name. And so a fundamental part of the social contract has broken down. Before Britons exchanged a miserable middle age for a gilded retirement. “Giving goods to an older person is figuratively giving goods to yourself when old” is a neat adage from Paul Samuelson, an economist. Those in the Dark Ages will pay more and receive less.
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