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Laura Gardiner @lauracgardiner
, 7 tweets, 3 min read Read on Twitter
What would a Budget for intergenerational fairness include? New @resfoundation analysis ahead of the first Autumn Budget in 12 days' time: resolutionfoundation.org/publications/a…
Some have suggested tax breaks for the young to the Chancellor, but this mainly helps the richest 20-somethings and adds complexity to the tax code.
While not overtly age-focused, a better way to help young families in the Budget would be to go by the benefit system. More than half the gains from un-freezing benefits next year would go to millennials.
Reversing Universal Credit work allowance cuts or reducing the taper rate in this month's Budget would further support the incomes of young families.
Using the Autumn Budget to boost incomes via the benefit system would focus support on less well-off millennials, particularly those with children.
Rather than add new age-related inequalities to tax system, the Chancellor could remove existing ones. Working pensioners pay no National Insurance - would raise £1bn and very focused on baby boomers with the highest incomes.
Of course not all about taxes/benefits, e.g. noises that a welcome focus on housebuilding will be part of Chancellor's pitch to younger gens. But having put intergenerational fairness front and centre, all parts of his Budget should be judged on impacts across and within cohorts.
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