Intergenerational Foundation

The rise to graduates tax burden will be equivalent to a 10% rise in the Basic Rate of Income tax. But as this was delivered by stealth through frozen thresholds, the change has gone almost unnoticed.

We believe it unfair that such a high burden is placed on younger generations with no democratic consent.

A clip from our evidence to to the Treasury select committee on Tuesday.

The triple lock ensures that the weekly rate of the State Pension increases each year by the highest of average earnings growth, inflation, or 2.5 per cent.

Is it necessary to protect pensioners' incomes and living standards? Or does it just deliver large, untargeted gains to all pensioners, including those who are already well-off?

Last week, we debated these questions on with former Pensions Minister Sir Steve Webb. Our view is that the triple lock is fiscally unsustainable, unpredictable, and intergenerationally unfair.

We think that there are far better ways to increase the State Pension each year that could ultimately benefit poorer pensioners, taxpayers, and younger generations.