They're doing a fantastic job at investigating the inter-related factors that are disadvantaging millennials and presenting it in an accessible way.
Despite stereotypes that millennials are frivolous spenders, the Intergenerational Commission found this generation to not only earns less, but spends less too. 25-35 year old’s now spend 15% less than 55-65 year olds on non-housing items, whereas in 2000 the two groups spent the same amount.
Millennials are also half as likely to own a home by the age of 30 as baby boomers (1946-65) and four times more likely to live in insecure privately rented accommodation.
Now, the news Philip Hammond had launched a new 26-30 railcard in a ‘bid to win over younger voters’ has saturated online journalism...
But whether younger voters align themselves with Conservative policies or if this attempt to woo a group of majority Corbynites is transparent has yet to be publically voiced or explicit seen in a voting opportunity.
Grad life crisis asked some politically engaged millennials to offer their opinion.
"Introducing a new 26–30 railcard is a positive move and will make rail travel more affordable for a generation who have not been fortunate, coming of age during the financial crisis, years of austerity and declining living standards. However many of the Conservatives policies have negatively affected young people; the trebling of tuition fees, scrapping EMA while restricting housing benefits to under 25s. The new railcard, while a step in the right direction, is an isolated policy and will not significantly alter the intergenerational inequality Conservative policies have already exacerbated". -Matthew Soames, 23, University of Bristol, History grad.
"A 26-30 railcard, while a good gesture, is an indication that Philip Hammond and the Conversative party have missed the point completely on this. The entire rail fare system needs an overhaul. Our system is more expensive per mile than most European counties and is less efficient. Furthermore, the fares are intentionally misleading to try and catch people out. This is because the entire system is run for profit and not for the public". -Chris Angelides, 26, Coventry University, Computers, Networking and Communications Technology grad.
"I was ecstatic to find out that the Young Person's Railcard had increased their age limit to 30. I’m 24 years old so this would have been my last year being entitled to this discount. I do believe Philip Hammond has been swayed to shake up how the Conservatives are perceived by young voters after the strong support Jeremy Corbyn has received this year. If I was in Mr. Hammond’s shoes, I would feel very threatened in keeping Conservative and undecided voters on side with their party. A lot of my wages are put towards travelling in out of London every day for work, so knowing I will roughly save about £600 a year is my primary concern right now. This extra money in my bank means I can enjoy being a young adult by being with my friends and family" -Hannah Hastings, 24, University of Brighton, English Literature and Media Studies grad.
"I feel that Philip Hammond's move to create a new 26-30 rail card is a sympathetic and overdue gesture. However the real issue at hand is that the rail system needs a complete overhaul to allow competition in the market instead of the semi privatised system which we endure at the moment. The new railcard is welcomed in the budget which alters Stamp Duty to households lower than £300,000 but the larger problem at hand is the availability of affordable housing for the younger generation, instead of cheaper rail fares. However the doesn’t negate the positive impact, however slight, it will have on people in their mid to late 20s" Jonathon Fallon, 22, Manchester Metropolitan University, History grad.
"Honestly, I don’t think it’s going to impact voting decisions. But, it’s going to improve people’s lives. We need to know how much money we’re going to save with this new policy for millennials. It’s not going to be the best deal of our lives, but it will improve our personal finances in some way. Every discount, every type of saving we receive, helps us to continue to reach the end of the month. If I had a choice right now, I wouldn’t change my vote, because it doesn’t change my general view of Theresa May’s administration.”
- Paloma Prieto, 27, Rey Juan Carlos University, Journalism, Communication and Media Studies grad and Cardiff University Masters grad.
"I think swaying young voters can only happen in large waves of people. I think doing that railcard is good, and its function works seeing as people want to spend less based on the current economic issues with travel expenses. He is definitely going to appeal to a specific young age group, if it is directly related to them. The railcard contributes to cross pollination which is positive and I support that as a young person." -Sabby Mumtaz, 22, Goldsmiths, Fine Art and History of Art grad.
"On first thought it's a great idea to extend the railcard. But the more I think about it, it shows we're living in a society where economics is so bad people just aren't financially stable until much later if at all. There are so many more things which could be put in place, this seems like the quick and easy way to please younger voters. I don't think its enough" -Hannah Hill, 23, City & Guilds of London Art School and Birmingham City University, Fine Art grad.