A report by the Intergenerational Foundation (IF) claims that the government’s manifesto promise to ‘not raise taxes’ has directly led to tax by stealth for young people.

Labelling the under 30s as the ‘packhorse generation’ the report accuses the government of burdening the cost of social care and Covid-19 on young people as they are going to pay a rate of 13.5% with the national insurance increase.

Those who reach the state retirement age of 65 do not pay national insurance even when they continue working however, they will pay the social care levy at 1.25% from next year.