Most Britons believe that the next generation faces bigger financial challenges than today’s adults, a new survey has revealed, as the number of young people struggling to find education or employment opportunities continues to rise.
More than two-thirds (67 per cent) of UK adults think children growing up today will be worse off than their parents, according to the polling commissioned by the Big Issue and shared with The Independent.
Only 11 per cent thought today’s youth would be at least somewhat better off, the survey of 2,140 people conducted by YouGov revealed.
The findings come as the number of young people not in education, employment or training (NEET) nears one million, an increase of 11 per cent since 2020.
At the same time, cost of living concerns grow as conflict in the Middle East threatens to stagnate any economic growth in the near future. Inflation rose in March to 3.3 per cent, a slight 0.3 point rise which indicated a definite move away from the downward trend of recent months.
The rise reflects the rising price of essentials like food and housing costs, as experts predict that Ofgem’s energy price cap could increase by at least £200 once the current level ends in July.
Paul Cheal, CEO of the Big Issue Group said: “While [The Big Issue’s] purpose endures, the world around us has changed dramatically – and the distinct pessimism in this polling shows a clear need for businesses like ours to innovate our support for the next generation.”
Asked which political party could be best for reducing the number of unemployed people, 40 per cent said either none or that they were unsure.
However, the public were more likely to back the Tories (15 per cent) or Reform (14 per cent) to reduce unemployment than Labour (12 per cent) or the Green Party (10 per cent).
Only a third (32 per cent) of people who voted for Labour at the 2024 general election currently back them to be the best party at reducing unemployment.
The Office for National Statistics (ONS) said the number of so-called NEETs aged 16 to 24 was reported at 957,00 in the three months from October to December.
Former health secretary Alan Milburn is currently leading a government-commissioned review into young people and work, which aims to tackle this rising number.
Last year, chancellor Rachel Reeves announced her “youth guarantee”, committing to offer guaranteed paid work for every eligible young person who has been out of education on work for 18 months.
Speaking at the Big Issue’s 35th anniversary, former deputy prime minister Angela Rayner said the magazine “provides the dignity of a hand-up”, adding: “that opportunity to become economically active, build confidence, develop new skills and a sense of dignity.”
“More than anything, the Big Issue gives people a second chance, and of course I know what I’m talking about when it comes to second chances,” she added.
The Labour MP was recently cleared of wrongdoing by HMRC over her tax affairs relating to a £40,000 underpayment of stamp duty. Speculation has mounted that she may be a leadership contender in the near future.
