Battle of the generations
Are the young bearing the burden of the deficit? Should the older generation bail them out? Baby-boomers must pay up Daniel Knowles The baby-boomer generation is the most cosseted, untouchable, powerful generation in our history. To say so isn’t pensioner-bashing, but simply stating a fact. That is the lesson of the outcry over last week’s ‘granny tax’ in George Osborne’s Budget. Even as those in every other generation have seen their incomes fall, and had to consume less, the elderly have been completely protected from Osborne’s axe. Yet when the Chancellor decides to close a tax loophole which fewer than half of those eligible even use, it is denounced by the pensioner lobby as an ‘outrageous assault’.
