Lucky or Left Behind? The Gen Z Money Story

This episode of *The Rest Is Politics* launches a four-part series exploring the financial realities of Generation Z, asking whether they are lucky or left behind. Host Alistair Campbell is joined by Dr. Eliza Philby, a specialist in youth economics and housing, who argues that Gen Z has grown up with a stark realism about economic opportunity—shaped by the 2008 financial crisis, rising student debt, stagnant wages, and unaffordable housing. Unlike previous generations, Gen Z never believed in the 'meritocracy' myth that hard work leads to home ownership and financial stability. Instead, they face a system where education no longer guarantees upward mobility, with university fees now exceeding £9,000 and graduates burdened by debt that functions like a de facto graduate tax. The episode highlights how Gen Z’s worldview is shaped by early financial trauma, consumer expectations in higher education, and the erosion of the 'graduate premium'—once 50%, now closer to 36%. As older generations begin to recognize the financial strain on their children, the political landscape may shift, with intergenerational solidarity emerging as a potential force for change. The episode sets the stage for deeper exploration of housing, work, and systemic reform in the coming weeks.