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In this, the final programme in the Austerity Audit, Paul Johnson -Director of the Institute For Fiscal Studies - looks to the future. He examines those areas of spending which have been relatively protected over the last ten years - the NHS and pensions - and how these decisions have benefited older generations at the expense of the working young.
And, in the wake of huge public spending following the Covid-19 pandemic, what options does the current Chancellor Rishi Sunak have going forward? Another decade of austerity, continued record borrowing or tax rises?
To answer that question Paul Johnson talks to those who were centre of decisions 10 years ago – Alistair Darling, Nick MacPherson, David Gauke and Polly Mackenzie.
Unpacking these issue for the millennial generation who are still coming to terms with the effect of the last economic crisis is financial blogger Iona Bain. She asks - if tax increases are on the cards then is it fair that the burden should fall to her generation rather than those who are older and have enjoyed the benefits of low house prices, job security and good pensions?