Two-thirds of young people expect to be worse off than parents, survey finds
A wide-ranging new survey finds that optimism among young people continues to decline, with only two-thirds of young adults expecting a better life from their parents.
The second annual UK Youth Survey, conducted by the John Smith Center at the University of Glasgow, found that only 36 per cent of young people aged 16 to 29 believe their future prospects will exceed those of their parents; This rate is down significantly from 63 percent a year ago.
The survey, sponsored by the Nationwide Building Society, polled more than 2,000 young people to determine its results.
The most pressing issues identified by young people include inflation and the cost of living, housing affordability, healthcare, immigration and asylum, and work and job security.
Speaking about the research, John Smith Center director Eddie Barnes said: “The idea that the next generation will be better off than previous generations has been a founding belief for decades.
“Today’s poll shows that the majority of this generation of young people no longer believe this is true. And their loss of faith is rapidly collapsing.”
He said: “On the bright side, young people generally remain optimistic about their future and want to get involved in politics and public life.
“But young people today, left out of the housing market, stuck with low wages, burdened with student debt, and increasingly concerned about the rise of artificial intelligence, feel a growing sense of injustice to the world around them.”
Following the vote, he called on governments and all political parties in the UK to “set out practical policies that will restore young people’s faith in the future”.
Conor Nakkan, senior researcher at the Intergenerational Foundation, said: “The fact that two-thirds of young people now expect to be worse off than their parents should be ringing alarm bells in Westminster.
“These findings reflect the lived reality of millions of young people in the UK. High housing costs, relatively fixed wages and growing insecurity in the workplace mean many young adults feel they are working harder for less security than the generation before them.”
He points to the Intergenerational Foundation’s research last year, which found that those under 30 spent almost 70 per cent of their total expenditure on basic needs; This rate was around 55 percent in the early 2000s.
According to the organization’s data, homeownership rates have also fallen sharply; The share of 16- to 24-year-olds who own a home has fallen from about 27 percent two decades ago to just 11 percent today.
Mr Nakkan added: “Many young people are now living at home longer, taking on larger student debts, struggling to find secure employment and taking longer to achieve major life milestones such as owning a home and starting a family. Given all this, it’s no wonder so many people worry they’ll be worse off than their parents.”
The wide-ranging survey also found that half (50 per cent) of young people would not be prepared to “take up arms and go to war for Britain” under any circumstances.
