Intergenerational scam

So here's the scam, mum and dad go out on a spending spree for 40 years using debt, tax breaks and inflation to build their personal wealth and lock it up mostly in property and pension savings.

Then they retire and leave the debt burden and it's servicing to their kids and grandkids.

No wonder the economy is sinking - we've broken the covenant with our children, we should be picking up the debt bill - not them.

A one off tax on all those with capital assets of c. £1M and more, would pay down the national debt at a stroke and with it the servicing costs, with no cuts or direct/ indirect income tax rises required.

Then the youngsters could get on with rebuilding Britain's economy- untroubled by their patrents' debts.

Let's hope the government get honest, exposes the scam and sorts it out.