Do Millennials deserve £10K for doing nothing?

A report published yesterday by the Resolution Foundation think tank and endorsed by the head of the CBI says that all 25-year-olds should be given £10,000 ‘Citizens Inheritance’ to help them onto the housing ladder to help rebalance the difference in wealth between the generations.

The payment is intended to redistribute wealth at a time when young people need it most to find housing, return to education or start a business.

It is also intended to reduce resentment towards baby boomers (born 1946-65) who have typically done better out of the housing market and pensions than any subsequent generation.

This would be paid for by taxing rich pensioners and reducing the inheritance tax threshold.

The findings will be seized on by millennials (born 1981-2000) who believe they have been miscast as spendthrift hedonists who would rather splash out on artisan coffee and slices of avocado on toast than save for a house deposit.