Cost of living crisis affecting different generations in very different ways, says Resolution Foundation
Older people face a bigger income hit from surging energy costs this winter but younger households are more at risk of being unable to pay their bill or getting into debt amid the cost of living crisis, according to a report.
As households across Britain turn their heating on, the research by the Resolution Foundation thinktank found that older generations, in particular the over-75s, will spend a bigger share of their income, up from 5% to 8%, on their energy bills. For those under 50 the proportion is 5%.
Cost of living crisis affecting different generations in very different ways, says Resolution FoundationOlder people face a bigger income hit from surging energy costs this winter but younger households are more at risk of being unable to pay their bill or getting into debt amid the cost of living crisis, according to a report.As households across Britain turn their heating on, the research by the Resolution Foundation thinktank found that older generations, in particular the over-75s, will spend a bigger share of their income, up from 5% to 8%, on their energy bills. For those under 50 the proportion is 5%. Continue reading…
