Young people could face a massive squeeze on their finances in the next few years, according to a report from the political think tank Reform.
Taxes, repayment of student debt and compulsory pension contributions may produce an effective tax rate of 48% for some of them, the report says.
The survey suggested two-thirds of voters think young people are having a harder time than their parents.
The report calls them IPODS - insecure, pressured, over-taxed and debt-ridden.
"Young people are under increasing pressure from rising debt, low earnings growth and low savings and face extreme difficulty in entering the housing market," said Professor Nick Bosanquet of Imperial College London, one of the report's authors.
Perhaps they'll think next time there is a general election.
Taxes, repayment of student debt and compulsory pension contributions may produce an effective tax rate of 48% for some of them, the report says.
The survey suggested two-thirds of voters think young people are having a harder time than their parents.
The report calls them IPODS - insecure, pressured, over-taxed and debt-ridden.
"Young people are under increasing pressure from rising debt, low earnings growth and low savings and face extreme difficulty in entering the housing market," said Professor Nick Bosanquet of Imperial College London, one of the report's authors.
Perhaps they'll think next time there is a general election.
Comment