"Glum mums pessimistic about the future for their children", report finds

Being unable to get on the housing ladder, debt and pension provision are the biggest concerns that mums fear for the future of their children, a new survey has shown.

The survey of Mumsnet users was conducted for the High Pay Centre - an independent, non-party think-tank whose goal is to set out a road map towards better business and economic success.

The pessimistic results found that

• 80 per cent of Mumsnet users felt that opportunities to get on the housing ladder would be worse for their children than it was for them

• 78 per cent concluded that levels of personal debt would be worse

• 87 per cent feared the state pension provision would be worse

Nearly three quarters of mums, (72 per cent) said that businesses should prioritise job creation over shareholder return and they also wanted action from government:

• 81 per cent of mums surveyed either tended to agree or strongly agreed that the “government should do more to support job creation schemes in companies for younger people”.

High Pay Centre director, Deborah Hargreaves, said: “When our children are young, we all have high hopes for them. We like to think the future will be better for them. But Britain’s dire economic situation has dashed hopes for many mums that brighter prospects lie ahead.

“Executive pay clearly undermines public trust in business. But just as importantly, mums want businesses and government to create more jobs for young people even if it means reducing returns for shareholders.”

Justine Roberts, CEO and co-founder, Mumsnet said: "This report paints a bleak picture of the future for the next generation and clearly shows that we have to take action if we want our children to have decent job prospects and a hope of secure finances.

“Of course parents need to save and plan for children as best they can but unless government prioritises the creation of employment for young people their efforts will be futile."

The report,’ It’s A Mum’s World: attitudes to business reform, the economy and pay’, is available to download from: www.highpaycentre.org/pubs