A new generational contract
In May 2018, the influential thinktank the Resolution Foundation published a report following a two-year study into intergenerational fairness.
‘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.
You can learn more about the report here.
[edit] Find out more
[edit] 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 European air conditioning market update 2024
Highs, lows and discrepancy rates in the annual demand.
50 years celebrating the ECA Apprenticeship Awards
As SMEs say the 10 years of the Apprenticeship Levy has failed them.
Nominations sought for CIOB awards
Celebrating construction excellence in Ireland and Northern Ireland.
EPC consultation in context: NCM, SAP, SBEM and HEM
One week to respond to the consultation on reforms to the Energy Performance of Buildings framework.
CIAT Celebrates 60 years of Architectural Technology
Find out more #CIAT60 social media takeover.
The BPF urges Chancellor for additional BSR resources
To remove barriers and bottlenecks which delay projects.
Flexibility over requirements to boost apprentice numbers
English, maths and minimumun duration requirements reduced for a 10,000 gain.
A long term view on European heating markets
BSRIA HVAC 2032 Study.
Humidity resilience strategies for home design
Frequency of extreme humidity events is increasing.
National Apprenticeship Week 2025
Skills for life : 10-16 February
Update on the future of Grenfell Tower
Deputy Prime Minister decides for it be carefully taken down to the ground.
Ending decades of frustration, misinformation and distrust.
Essential tools in managing historically significant landscapes.
Classroom electrician courses a 'waste of money'
Say experts from the Electrical Contractors’ Association.
Wellbeing in Buildings TG 10/2025
BSRIA topic guide updates.