The excellent editorial “Reasons for youthful cheer” (The FT View, December 31) missed one point. The $70tn of wealth that UBS estimates will be passed down by the baby boomers over the next 25 years is unlikely to materialise. With governments all over the world deeply, and increasingly, in debt and with generational conflict likely to compound class conflict, it is surely inevitable that governments will target inheritance tax as a rich source of funding for their never-ending budget deficits.
The baby boomers, who have amassed this wealth, have only themselves to blame. Our generation has been complicit in enabling unsustainable government deficits by consistently voting for governments that burden future generations with enormous amounts of sovereign debt.
Adrian Kingshott
Greenwich, CT, US