David Willetts | Boomers Daily

The post-war baby boom of 1945-65 produced the biggest and richest generation in British history. David Willetts discusses how these boomers have attained this position at the expense of younger generations.

Lord Willett’s book “The Pinch – How the Baby Boomers Took Their Children’s Future – And Why They Should Give it Back” is available now – https://geni.us/B0Gvq

Watch the Q&A: https://youtu.be/_qEjTXrQ7vs

Lord Willetts is a visiting Professor at King’s College London, Governor of the Ditchley Foundation, Chair of the British Science Association and a member of the Council of the Institute for Fiscal Studies. He is also an Honorary Fellow of Nuffield College, Oxford. Lord Willetts has written widely on economic and social policy.

His book ‘The Pinch’, which focused on intergenerational equity, was published in 2010, and he recently published ‘A University Education’. Lord Willetts served as the Member of Parliament for Havant, as Minister for Universities and Science and previously worked at HM Treasury and the No. 10 Policy Unit.

This talk was filmed in the Ri on 28 November 2019.

From a The Atlantic online article:

Willetts had stumbled onto one of the great divides of modern politics: young versus old. In Britain, age is now a better predictor of voting intention than social class. Overall, the Boomers voted for Brexit in 2016 and the Conservatives in 2017; their Millennial children voted Remain and Labour. The single biggest error that Theresa May, the prime minister in the lead-up to the 2017 election, made during that process was to float the idea that older people might have to contribute more to the spiraling costs of their own retirement care. The “dementia tax” prompted an immediate, ferocious response, and May backed down.

That is not an isolated example. A guiding principle of politics in Britain, and elsewhere in the West, is: What Boomers want, Boomers get. Working-age benefits, for example, have been frozen since the 2015 budget, but the state pension has consistently risen. (At this election, Britain’s two main parties have both promised to keep increasing pensions; Jeremy Corbyn’s Labour has also pledged £58 billion ($74.7 billion) to Boomer women affected by the rise in the female state pension age from 60 to 66.

The debate is also about so much more than abstract disagreements over policy and government funding. Caring for the elderly, for example, becomes wrapped up in assertions of “just deserts”—I’ve worked hard all my life and paid my taxes—and fears about money-grubbing children selling off their parents’ houses. It is also, like taxes on inheritance, a subject that prods at many people’s deep desire to pass something on to their offspring.