Create new savings instruments (David Willetts, Member of Parliament)
I show in my new book 'The Pinch' that the two most important forms of personal wealth - housing and pensions - belong disproportionately to the baby boomers. It is proving much harder for the younger generation to get started on the housing ladder and to start building up pension savings. Traditional company pension schemes were a kind of contract between the generations and as that has broken down the challenge is to create new savings instruments that help people through the lifecycle, help younger people to start saving, and perhaps even once more spread the risk across the generations.'
David Willetts' book 'The Pinch: how the baby boomers took their children's future and why they should give it back' is published by Grove Atlantic Books.