Young people (without rich parents) will end up paying for a rise in national insurance to fund social care

The government is planning a national insurance rise to fund an overhaul of social care. This is the wrong way to do it, argues Jeevun Sandher. Increasing taxes on the hard-working young, rather than the wealthy old, will further penalise this less lucky half. It will particularly penalise young people without rich parents – the more income and wealth that older generations can gain today, the more some parents will have to pass on to their lucky children who did nothing to earn it.