The real story on young vs old: Who's robbing whom?

The uneven spread of wealth across the generations is one of the most fiercely debated issues of our time.

It is also the source of a growing tension between old and young people - who often blame each other for the catalogue of problems that Britain is facing. The old are branded "selfish" while the young are labelled "lazy".

The truth is more complex than the stereotypes. "Baby boomers", those now either retired or close to pensioner age, were raised through postwar austerity and weathered terrifyingly high interest rates in the Seventies and Eighties. "Millennials", those now in their 20s and 30s, have begun their adult lives straight after one of the worst recessions of the past century, and are saddled with huge debts from university and housing.