Poorer Than Their Parents

Episodes

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01Jobs2011072320110727 (R4)Politicians have been talking a lot more about younger people in recent months. The Chancellor George Osborne says the Coalition Government has to tackle the deficit now because it wouldn't be fair to future generations to leave them a legacy of debt. While the Labour leader, Ed Miliband says Britain's in danger of raising the first generation for some time to be worse off than their parents. Financial guru Alvin Hall assesses these claims and offers advice to young people and their families about how to tackle the financial problems facing today's youth.

Each programme in this four-part series will focus on a different theme, from housing and employment through to pensions and inheritance. Through the families and individuals he meets, Alvin will assess whether the sons and daughters of Britain's bulging baby-boomer generation really will be worse off than their parents. From the young estate agent struggling to get on the housing ladder while his father controls a large buy-to-let portfolio, to the student struggling to fund a vital internship to kick-start his career - Alvin Hall explores how younger people are navigating their way through an economy shaped by the previous generation.

The series will also shed light on a growing movement committed to raising the profile of intergenerational inequality. Alvin speaks to the founders of a new think-tank dedicated to the issue hoping to shape public policy and he speaks to the young journalist who's dubbed his contemporaries the 'jilted generation'. The financial guru hears their arguments in this new series, which broadcasts this summer while BBC Radio 4's Money Box programme takes a break.

Financial guru Alvin Hall helps young people plan ahead for an uncertain future.

02Pensions2011073020110803 (R4)In this second part of our series on inter-generational finance, Alvin Hall talks to young people about their attitudes towards pensions.

Fewer than 40% of under 30 year olds contribute to pension schemes offered by their employer. Alvin accompanies the Pensions Advisory Service for a session educating young workers at a hire car firm about the benefits of their scheme and he meets pensions sceptic and youth activist George Lewkowicz to hear why he's stopped saving.

Alvin Hall explores young people's attitudes to pensions and saving for retirement.

Financial guru Alvin Hall helps young people plan ahead for an uncertain future

03Inheritance20110810In this third part of our series on inter-generational finance, Alvin Hall meets families seeking help to support younger relatives with their finances.

He speaks to a gerontologist - an academic who studies the social impact of ageing - who rejects the idea that the baby-boomer generation born in the twenty years after the end of the Second World War have stolen their children inheritance but who feels the Government's not doing enough to allow her to help her children.

Alvin also meets one of a growing number of families seeking new ways of releasing capital from their homes or from their pension pots to pass down to younger relatives to raise a deposit for a home or pay off debts. He assesses whether this trend marks a shift back to a society more dependent on inherited wealth.

Alvin Hall explores changing patterns in inheritance.

Financial guru Alvin Hall helps young people plan ahead for an uncertain future

04Housing2011081320110817 (R4)In the final part of our series on inter-generational finance, Alvin Hall assesses young people's housing needs.

The financial guru meets the son of a buy-to-let landlord who's been priced out of the market while his father is relying on his property portfolio to fund his retirement. But will he be able to sell them when would-be first-time buyers like his son are struggling to raise the necessary deposit?

Alvin Hall also assesses whether a Government scheme to build homes for £60k helped make them more affordable to young people. He asks what lessons the initiative offers to future policy makers seeking to lend a hand to first-time buyers.

And he travels to Cambridge to examine the likely impacts of the Coalition's changes to housing benefit and affordable rents and asks whether the reforms will disproportionately affect young people.

Financial guru Alvin Hall helps young people plan ahead for an uncertain future