- Project plans
- Project activities
- Legislation and standards
- Industry context
Last edited 10 May 2018
A new generational contract
‘A new generational contract: the final report of the Intergenerational Commission’ contains the conclusions of the Commission and provides an analysis of the intergenerational challenges between the ‘baby boomers’ and ‘millennials’ and their respective prospects.
David Willetts, the former Conservative universities minister, chaired the panel, which also included Frances O’Grady, the TUC Secretary General, and Carolyn Fairbairn, the CBI Director General. According to Fairbairn, the conclusions were built around the acceptance that the ‘tacit deal in which the young look after the old and the old help the young have a better life than the generation before’ had demonstrably broken down.
As well as suggesting policies such as a £10,000 ‘citizen’s inheritance’ given to every 25-year-old, the Commission proposed several ideas relating to the housing market:
- Introducing indeterminate tenancies as the sole form of private rental contract. (Scotland have already adopted this policy, but the report recommends England and Wales follow suit.)
- Limiting rent rises to CPI inflation for set three-year periods through ‘light-touch’ stabilisation measures.
- A housing tribunal system with powers to adjudicate on challenges to rent rises.
- Requiring landlords to register with their local authority, thereby bringing England in line with the rest of the UK.
- Improving support for younger families on low-to-middle incomes by revisiting housing benefit rules.
- Replacing council tax with a progressive property tax related to up-to-date values.
- Halving stamp duty to encourage property-owners to move.
- Providing city and city-region mayors with powers to limit residential property sales in housing hotspots to UK residents.
- A time-limited cut to capital gains tax for owners of multiple properties selling to first-time buyers.
- Reforming the viability process to ensure builders deliver on their affordable homes commitments.
- Allowing local authorities to borrow to build new homes.
 Find out more
 Related articles on Designing Buildings Wiki
- Affordable housing.
- Diversity and the housing crisis.
- Draft housing strategy for London 2017.
- Fixing the foundations.
- Help to buy.
- Home ownership.
- Housing shortage.
- Housing white paper 2017.
- Private rented sector PRS.
- Redfern review into the decline of homeownership.
- The rise of multiple property ownership in Britain.
Featured articles and news
BSRIA examines factors driving the industry.
Ensuring designs are developed, validated and can be effectively implemented.
The Homebuyer Survey most suitable for newer homes or simple properties.
Health and safety practices for body and mind.
28 leading bodies set out their vision for the future.
Chancellor announces latest Winter Support packages.
Tapping technology to boost infrastructure and create jobs.
4 ways to ensure certificates are valid.
White elephant construction projects.
How Paul Williams bent over backwards to overcome racial barriers.
Organisation revises actions around dealing with COVID-19.
CIOB, NFCC, RIBA, RICS call for changes ahead of Building Safety Bill.
Developments in the Future Homes Standard.
An American chimney feature with a colourful past.