Wide open? ‘Open banking’ will mean more fraud
Page 2 almost all circumstances, breaching minimum wage laws, but many people don’t realise that there are several avenues to recompense. The IPPR estimates that as many as one in five of all internships are unpaid.
Liz Emerson, co-founder of the Intergenerational Foundation, said the internship system massively favoured those with wealthy families who live in London or the South East.
“With 500,000 new graduates coming into the labour market each year, their earning power is very much at the discretion of older employers, who were paid when they themselves entered the workforce,” she added.
“Young people need decent wages and good prospects if they are to be able to build up enough wealth to see them through their own old ages and not just pay the bill for today’s unaffordable 25-year long retirements.”