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telegraph.co.uk:
The #160,000 reason why your children will vote Labour in the general election

5 November 2019

Millennials, many of whom came of age during the 2008 financial crisis, are the first generation ever to be less well-off than their parents. The reasons for this, according to a report released last week by the Institute for Fiscal Studies (IFS), are not down to excessive splurging on avocado toast and Netflix subscriptions. Rather, it's the result of fundamental changes to our economy - such as stalling earnings growth, paltry returns on savings and rises in house prices that have pushed property ownership beyond the reach of most young workers.
Research by the Centre for Economic Performance at the London School of Economics found that the number of young people (those around the age of 30) who earn in real terms as much as or more than their fathers did at the same age plunged from more than a half in 2005 to just 30pc by 2018.
'Falling Absolute Intergenerational Mobility' presented at the Royal Economic Society Annual Conference 2019.

Read more... telegraph.co.uk