Leading think tank responds to OBR report on the impact of population ageing
Jul 17, 2018 | NEWS
Responding to the Office for Budget Responsibility’s (OBR) Fiscal Sustainability Report, released today (17 July) and presented at a press conference by OBR Chairman Robert Chote, Dean Hochlaf from the International Longevity Centre – UK (ILC-UK) said:
“The latest Fiscal Sustainability Report makes it very clear that we are facing an uncertain future. Demographic pressures are set to continue to dominate the agenda, with health, pension and adult social care spending all set to rise as a proportion of total GDP. We need a serious public debate in the UK about what services individuals should expect and where the responsibility for providing and financing them lies.
“While population ageing may negatively impact public finances, there are also many potential economic benefits to longer life expectancy. For these benefits to be realised, it is important that action is taken to improve public health, to invest in skills and training and to make consumption accessible. The future of our public services depends on our ability to transform our society into one where older adults can participate to their full potential.”