Making Money How do you fix inequality?
May 26, 2025
David Willetts, a Conservative Member of the House of Lords and President of the Resolution Foundation, dives into the pressing issue of intergenerational inequality. He discusses the increasing wealth gap between older and younger generations and suggests capping ISAs at £100k to assist low earners. Willetts also addresses the shortcomings of student debt systems and the need for reforms in property taxes to enhance equity. With witty anecdotes and insightful solutions, he champions a path toward financial fairness for future generations.
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Capping ISAs for Fairer Tax Relief
- Consider capping ISA savings at £100,000 to target tax reliefs more fairly.
- Redirect resources from the wealthiest to fund social programs and ease fiscal pressures responsibly.
Trust in ISAs vs Pensions
- ISAs are uniquely trusted because their rules remain stable and clear, unlike pensions with fluctuating regulations.
- Changing ISA rules could damage trust and discourage saving among many people, especially younger savers.
Include Self-Employed in Pensions
- Extend auto-enrolment pensions to cover self-employed and freelancers.
- Provide inclusive retirement savings opportunities beyond traditional employment structures.
