Jilted Generation

Subtitled 'how Britain has bankrupted it youth', this is a polemical but informative analysis of the plight of young people born since 1979. The baby boomer generation got a free education and have made a fortune in property over the last 30 years. They will also not be too badly off on pensions compared with coming generations. The current generation of graduates starts with a debt of some £17,500, which will soon rise to over £30,000 with the impending hike in tuition fees. Add to this the enormous cost of first homes and the need to raise a 25% down payment, and you have a position where many young people in their 20s are still living at home and can't afford to move out - in 2009 29% of men and 18% of women aged 20 to 34 were living with their parents. This puts considerable strain on family relationships. Graduates are also finding it more difficult to secure employment, which will enable them to begin paying back their debt. Unemployment is now disproportionately affecting the under 24s. The book looks at four main areas: housing, jobs, inheritance and politics. A number of acronyms have grown grown-up, like KIPPERS (kids in parents' pockets eroding retirement savings) and iPods (insecure, pressurised, overtaxed and debt ridden). The section on politics highlights, like Richard Layard, the damage done to social cohesion by the unbridled encouragement of individualism and short-term interests. The overall picture is chilling, and adds to the consequences of changing demographics with an older population being supported by the younger generation. But what if many young people can't find gainful employment? The book should be compulsory reading for politicians of all shades.