Brits are 'worse off than their parents'

Seven out of ten people think that they are worse off or bringing in the same household income as their parents did - despite all of their educational qualifications and the rise of both partners pursuing careers.

The Sutton Trust also found that only one in ten people felt that they had used the 'loadsamoney' or academic-educational route to jump from the bottom of the social ladder to get to the top.

When asked, however, 54 per cent of people said that they thought that all sectors of the UK have equal opportunities to 'get ahead'.

Dr Lee Elliot Major, director of research at the Sutton Trust, said: "Opportunities in this country remain heavily determined by parental background.

"The public appear to recognise some of the inequalities in our society, but on the face of it half do not think that Britain is particularly socially immobile."

For adults who are struggling to juggle their finances in the light of rising fuel and food costs, utility bill hikes and regular costs such as council tax and home insurance premiums, it may well be the case that their parents can still offer practical advice - since they have encountered similar budgeting problems before.

27/06/2008 11:52:26