When this is all over, a huge redress is due to the young. A Social Market Foundation report this week argued that the burden of paying the enormous cost of the crisis should not fall on those of working age alone: £20bn could be saved over five years by abandoning the pension triple lock. In the FT yesterday, Labour’s shadow chancellor, Anneliese Dodds, called for “a new social contract” with a more progressive tax system. Surely that will have to mean more justice between generations, and between earned and unearned income. Any social care reforms to raise standards must be paid for from the property assets of older people themselves.
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