Oldies are pampered. We should offer a new deal to the young | Patrick Collinson

Older people benefit from a raft of tax reliefs, while Generation Rent has been dealt a bad hand

At the lovely Meyrick hotel in Galway, I had my first experience of a freebie solely because I had just tipped over 55 years old. The hotel pointed out I could now benefit from their “golden years” package, knocking quite a bit off the price. Meanwhile at my gym, I now qualify for a low-cost deal because I’m over 55. And in a few years’ time I get the big one: the TfL pass giving free 24-hour travel over the city’s entire transport network.

I shall continue to benefit from sizeable tax relief on my pension contributions – worth far more to older people like me on higher salaries, as I obtain 40% tax relief, while young people on smaller salaries get just 20% relief. I also benefit from Isa tax relief as I can afford to save when young people can’t. Then there is the juiciest of all tax reliefs: no capital gains tax when I sell my home – while Generation Rent grimly hand half or more of their take-home pay to landlords.

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from Property | The Guardian http://bit.ly/2TrTQtd
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