Inquiry launched into ‘intergenerational fairness’

An inquiry into ‘intergenerational fairness’ has been launched by the Work and Pensions Committee.

The Committee will consider concerns that over the course of their lifetimes, older generations, notably ‘baby boomers’, will have enjoyed and accumulated much more housing and financial wealth, public service usage, and welfare and pension entitlements than younger generations in the UK can hope to receive

The key questions the Committee will address include: ‘What has been the collective impact on different generations of policies in recent years, including welfare reform and deficit reduction with areas of protected spending?’; ‘To what extent is intergenerational fairness a welfare issue?’; ‘What effects are these changes projected to have over time? Are they sustainable? What have the long-term trends been?’; and ‘How does the welfare system interact with other areas of public expenditure and income and wealth in the wider economy, including issues of health, education and housing?

Richard Graham, Committee member, said: “At a time when there is significant pressure on public spending, people are living longer, pensions are starting later and care costs rising there will also always be issues about relative fairness between generation.

“How has public spending between generations altered over the years and what are the implications? The committee will look at these issues.”

The Committee is currently accepting written submissions until 19 February.