A study due this week from the Intergenerational Foundation thinktank shows that while spending on pensioners and children respectively increased at similar rates before 2010-11, the austerity years to 2019 proved much more generous to the old.
The report finds that in 2018-19, the government spent “on average £14,660 on each child, £10,180 on each working-age adult, and £20,790 on each pensioner” and that the gap in per capita spending on children and pensioners more than doubled over the previous 20 years.
This means pensioners captured 30% of the growth in public expenditure throughout the period, with most of the gains coming after 2010 and the introduction of the triple lock, though many and varied ancillary benefits also played a part.
Author(s): Phillip Inman
Publication Date: 24 April 2021
Publication Site: The Guardian