In this week's NS: Evgeny Lebedev profile

The owner of the <em>Independent</em> and <em>Evening Standard</em> speaks to the <em>NS</em> about

In this week's New Statesman, the owner of the Independent titles and the London Evening Standard, Evgeny Lebedev, speaks to Sophie Elmhirst about why he admires David Cameron, why he is on the lookout for another newspaper to buy, and why his father, Alexander Lebedev, is considering legal action against the Guardian. Elmhirst writes:

According to an interview in the Guardian, his father hinted that the Independent's editor-in-chief, Simon Kelner, might be replaced and some staff made redundant. He was reported to have said that he found the newspaper "a bit boring" and that he was more entertained by the Daily Mail. Evgeny, when we speak on the phone the day after the interview is published, is unimpressed; he says the report was based on an off-the-record conversation and that his father's comments were taken out of context. "That is not ethical journalism," he argues. His father is now considering legal action against the Guardian.

Despite owning all three Independent titles and the Evening Standard, he seems anxious to expand his print portfolio.

In the context of the newspaper industry's struggles and experiments, Lebedev is proud of his success at the Standard. Will he be buying more titles? He smiles. "I can't really tell you that. It depends what comes up - if an interesting opportunity comes up, I'll always look at it."

The Independent may take a critical line on the Conservative-led coalition government, but its owner admits that he is an admirer of David Cameron. Elmhirst writes:

[Lebedev] also makes a point of forging political relationships and has met David Cameron, whom he professes to admire. "I think he will prove to be a great prime minister. He's confident, he makes decisions."

With mayoral elections looming, the Mayor of London, Boris Johnson, also confesses to being a fan of London's main evening paper and its proprietor.

"I am proud to call him a friend and a Londoner," gushes Boris Johnson, when asked for his thoughts on Lebedev. "This great city of ours would be a lot poorer without him and the vibrant, creative Russian community who contribute so much."

To read the profile in full, pick up a copy of this week's New Statesman, available on news-stands from tomorrow, or subscribe to the magazine.

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In your 30s? You missed out on £26,000 and you're not even protesting

The 1980s kids seem resigned to their fate - for now. 

Imagine you’re in your thirties, and you’re renting in a shared house, on roughly the same pay you earned five years ago. Now imagine you have a friend, also in their thirties. This friend owns their own home, gets pay rises every year and has a more generous pension to beat. In fact, they are twice as rich as you. 

When you try to talk about how worried you are about your financial situation, the friend shrugs and says: “I was in that situation too.”

Un-friend, right? But this is, in fact, reality. A study from the Institute for Fiscal Studies found that Brits in their early thirties have a median wealth of £27,000. But ten years ago, a thirty something had £53,000. In other words, that unbearable friend is just someone exactly the same as you, who is now in their forties. 

Not only do Brits born in the early 1980s have half the wealth they would have had if they were born in the 1970s, but they are the first generation to be in this position since World War II.  According to the IFS study, each cohort has got progressively richer. But then, just as the 1980s kids were reaching adulthood, a couple of things happened at once.

House prices raced ahead of wages. Employers made pensions less generous. And, at the crucial point that the 1980s kids were finding their feet in the jobs market, the recession struck. The 1980s kids didn’t manage to buy homes in time to take advantage of low mortgage rates. Instead, they are stuck paying increasing amounts of rent. 

If the wealth distribution between someone in their 30s and someone in their 40s is stark, this is only the starting point in intergenerational inequality. The IFS expects pensioners’ incomes to race ahead of workers in the coming decade. 

So why, given this unprecedented reversal in fortunes, are Brits in their early thirties not marching in the streets? Why are they not burning tyres outside the Treasury while shouting: “Give us out £26k back?” 

The obvious fact that no one is going to be protesting their granny’s good fortune aside, it seems one reason for the 1980s kids’ resignation is they are still in denial. One thirty something wrote to The Staggers that the idea of being able to buy a house had become too abstract to worry about. Instead:

“You just try and get through this month and then worry about next month, which is probably self-defeating, but I think it's quite tough to get in the mindset that you're going to put something by so maybe in 10 years you can buy a shoebox a two-hour train ride from where you actually want to be.”

Another reflected that “people keep saying ‘something will turn up’”.

The Staggers turned to our resident thirty something, Yo Zushi, for his thoughts. He agreed with the IFS analysis that the recession mattered:

"We were spoiled by an artificially inflated balloon of cheap credit and growing up was something you did… later. Then the crash came in 2007-2008, and it became something we couldn’t afford to do. 

I would have got round to becoming comfortably off, I tell myself, had I been given another ten years of amoral capitalist boom to do so. Many of those who were born in the early 1970s drifted along, took a nap and woke up in possession of a house, all mod cons and a decent-paying job. But we slightly younger Gen X-ers followed in their slipstream and somehow fell off the edge. Oh well. "

Will the inertia of the1980s kids last? Perhaps – but Zushi sees in the support for Jeremy Corbyn, a swell of feeling at last. “Our lack of access to the life we were promised in our teens has woken many of us up to why things suck. That’s a good thing. 

“And now we have Corbyn to help sort it all out. That’s not meant sarcastically – I really think he’ll do it.”