The decade hope forgot

Major study finds thirtysomethings today are significantly poorer than previous generation for first time since Second World War

The children of the Thatcher era have reached adulthood with half as much wealth as the previous generation, finds a major study published today. The report from the Institute of Fiscal Studies concludes people born in the early 1980s are the first post-war generation to suffer smaller incomes in early adulthood than those born 10 years before. A toxic mix of low interest rates and the calamitous crash of 2008 mean it is much harder to accumulate wealth, leaving them with meagre pensions and a lower rate of homeownership.