I'm going to suggest that globalisation has played a big part in the end of increasing wealth. Multinationals employ workers on the lowest possible wages (hence wage level stagnation) and the profits disappear to shareholders and funds across the globe. I imagine retired people in the UK hold more shares than other groups, but the real issue is low wages and profits not trickling down locally. It is worth pointing out that Labour and Conservatives both support, or have supported, globalisation.
I'm not advocating protectionism.
I think people are too quick to jump on this voting difference as some sign of significance or relevance.. I'm with you that globalisation and other factors that transcend the government of the day are far more obvious.
I don't really know what conflated point people are trying to make by saying something obvious like in 2019 more old people voted conservative?
if you go back 50 years when those retirees where 'young', they too voted overwhelmingly for labour (
https://www.ipsos.com/ipsos-mori/en-uk/how-britain-voted-october-1974)..
BUT.. if you look at Tory/Labour split against age since then, it's ebbed and flowed.. make of that what you will, but I don't see any strong basis to support retirees being some awful destructive part of society.
And on the subject of poverty, this is something that generally has always been going down:
(source)
https://commonslibrary.parliament.uk/research-briefings/sn07096/
And you can see, under the Tories (Major) there was a steep decline in 'absolute' poverty, which Blair initially continued, but soon plateau'd and relative poverty has been fairly stable with a slight trend down..
Looking at the before/after housing costs, for relative low income stats, the gap was worse in the 90's than now..
And oddly, I can say with confidence (I'm Gen X) that in the early 90's, it took 2 wages with a hefty multiplier to afford our first house, and that was with a very modest annual holiday and no kids, then it took me quadrupling my wages before we had our first child and could just survive on 1 wage (and 'just' surviving)..
I get that relatively speaking house prices are rising and the cost of ownership/renting is increasing, but it's not all bad, other outgoings seem relatively cheaper and the standard of living is much improved from when I grew up in the 70's and 80's..
My kids (Teenagers) have way way more then I ever had, My daughters first car which she funded from a weekend job whilst at school is immeasurably better than my first rusty wreck of a car and I paid £400 a year insurance initially back in 1988, my daughter is currently paying £300 for learner insurance and full insurance will be almost identical when inflation is taken in to account..
So yes, I agree there are some things like property that are most certainly disproportionately increasing, but relative levels of poverty I'm not that convinced about and you can't just ignore everything else that contributes to quality of life, I've not seen work get any harder, workers rights and conditions have most certainly improved and in todays society workers rights have never been better.
The main one I agree with is the retirement age increasing, but that's always going to happen as we live longer and are able to work for longer etc.. but also balance that with the fact we actually work less annually on average as time goes on. (
https://ourworldindata.org/working-hours)