The age of gilded youth is over. Today’s under-thirties are the first generation for a century who can expect a lower living standard than their parents. Research into the lifestyles and prospects of people who were born since 1970 shows that they are likely to face a lifetime of longer working hours, lower job security and higher taxes than the previous generation.
When they leave work late in the evening, they will be more likely to return to a small rented flat than to a house of their own. When, eventually, they retire, their pensions are far lower in real terms than those of their immediate forebears.
These findings are revealed in a study of the way how the ageing of Britain’s population is affecting different generations.
Anthea Tinker, professor of social gerontology at King’s College London, who carried out much of the work, said the growth of the proportion of people over 50 had reversed the traditional flow of wealth from older
A. currently wealth flows from old generation to younger generation
B. traditionally wealth flows from younger generation to old generation
C. with the increasingly big population of over 50, the trend arises that wealth flows from younger generation to old generation
D. with more and more people of over 50, traditions have been reversed
The age of gilded youth is over. Today’s under-thirties are the first generation for a century who can expect a lower living standard than their parents. Research into the lifestyles and prospects of people who were born since 1970 shows that they are likely to face a lifetime of longer working hours, lower job security and higher taxes than the previous generation.
When they leave work late in the evening, they will be more likely to return to a small rented flat than to a house of their own. When, eventually, they retire, their pensions are far lower in real terms than those of their immediate forebears.
These findings are revealed in a study of the way how the ageing of Britain’s population is affecting different generations.
Anthea Tinker, professor of social gerontology at King’s College London, who carried out much of the work, said the growth of the proportion of people over 50 had reversed the traditional flow of wealth from older
A. Because they made relatively small contributions in tax, but younger generation will possibly hand over more than a third of their lifetime’s earnings for the care of them.
B. Because they contributed a lot in tax and now can claim much on the welfare system.
C. Because they made small contributions, but now can make money easily.
D. Because they outnumber younger generation and enjoy more privileges in the present society.
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