Intergenerational Fairness

Yesterday I spoke on a debate on Intergenerational Fairness.

As a nation and as a society we need to start to be honest with ourselves about the size of the burden we have been and are placing on future generations, and about the fact that the generational time bomb is starting to impose ever heavier burdens.

The only solution—to be approached slowly, carefully and over a very, very long timescale—is to make the commitment to switch from a pay-as-you-go system to a fully funded system, so that we can look our children and grandchildren in the eye and say, “We did not ask you to pay any more for our lifestyles.”