Report says ‘unfair’ burden on young will have significant impact on take home pay and chance to save
The spiralling cost of living will have a “crippling” impact on young people, experts have warned, as a new report found that under-30s are disproportionately being forced to bear the brunt of the costs of social care reform and Covid.
Research by the Intergenerational Foundation thinktank, to be published on Monday, claims that younger workers are being unfairly targeted by the government in a “tax by stealth” caused by freezes on income tax brackets and the student loan repayment threshold, as well as April’s national insurance rise.
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