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GMB Comments On Report Showing Workers In Their Early 30s Are Likely To Be £10,000 Worse Off Than Those Over 34

Friday, September 30, 2016

GMB Comments On Report Showing Workers In Their Early 30s Are Likely To Be £10,000 Worse Off Than Those Over 34

GMB, has commented on a report from the Institute for Fiscal Studies (IFS) that showed that workers in their thirties are, on average, £10,000 pounds less wealthy than those over 34.

Craig Dawson, GMB Youth Representative, said:

"What the Institution for Fiscal Studies report shows is that young workers have not just borne the brunt of the most recent financial crisis but have seen deterioration in their income and wealth over the last 30 years.

It raises serious questions about the Government’s new rhetoric around social mobility if they aren't tackling the twin evils of rising house prices and low savings.

The Government has an urgent responsibility to encourage defined benefit pension funds and build the homes that won’t just give young workers the chance to rent but also to buy."

End

Contact: GMB press office on 07958 156846 or at press.office@gmb.org.uk

Notes to Editors

The Economic Circumstances of Different Generations (IFS)

https://www.ifs.org.uk/publications/8593

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