"In response, Lord Watts added that young people “are not stupid”, explaining that if they assume they will “earn low incomes and there’s no future”, then youths will likely lower their aspirations as a result."
There's probably a lot more interesting info hiding behind that statement. If housing is massively unaffordable (as it in the UK), social mobility is rather low, why go out there and destroy yourself in low wage jobs?
Not saying there's no spoiled youth waiting for their lottery ticket that will never come, but there's a rational aspect to it as well.
Really interested in seeing how it fares in reality, almost sounds too good to be true.