• Without a strategic plan for the long term, after a winter of discontent we could see seasons of suffering for years to come, argues think tank.

As the Conservative Party prepares to announce their new leader, specialist think tank urges the new Prime Minister to plan for the long term to avoid repeated long-term seasons of suffering 

David Sinclair, Chief Executive of the International Longevity Centre said: 

“Our failure to plan for demographic change has led to skills shortages in essential services, a struggling health and care system, and low productivity. 

We face a shortage of 2.6 million workers over next decade due to population ageing and low migration.   

We aren’t building housing for younger or older people and we haven’t fixed social care for young or old.  

The Government’s plans for 5 extra healthy years are ambitious but unachievable without adequate focus on preventing ill health across all ages. 

Young people are under-saving and pensioner poverty is about to increase. We haven’t adequately invested in energy efficiency or home improvements – so too many people live in homes which are inappropriate and expensive to heat.  

A generation of younger people have had significant disruptions to their learning while few adults have access to learning to support them to work longer and adapt to a changing world.  

Older workers haven’t returned to the labour market in adequate numbers, yet our economy needs their skills, expertise and their spending power. 

These challenges are huge. And with the immediate pressure of the cost-of-living crisis, we could see a difficult winter followed by seasons of suffering if the new Prime Minister doesn’t act fast. But it’s not a hopeless situation. We know what the challenges are and we know that there are economic and social benefits of addressing them.  

Older people are, for example, responsible for over half of all consumer spending so supporting people to be healthier for longer, allows for longer working lives and increased consumer spending.  

It’s time to reset public policy and plan for the longer term. If we don’t, the winter of discontent could go on for years, if not decades.  

Ends 

Notes 

Contact press@ilcuk.org.uk or +44 (0) 208 638 0832 for press queries. Spokespeople are available for interview. 

In 2018, older consumers spent £319 billion (54% of all UK consumer spending) this could increase to £550 billion (63% of spending) by 2040.

The latest figures from the Office of National Statistics show 3.6m people aged 50-64 are now economically inactive. Despite the rise in vacancies, ILC research shows a potential shortfall of 2.6m workers by 2030. www.ilcuk.org.uk/plugging-the-gap/ 

Even before COVID-19, ILC research found that 1 in 3 Gen Xers risk retiring without adequate retirement income, with 1 in 5 set to live in poverty during retirement without urgent action. Women, the self-employed, renters and carers have been hit hardest. COVID-19 has further disrupted the plans of millions to save for retirement. 

 About ILC 

The ILC is the UK’s specialist think tank on the impact of longevity on society, and what happens next. 

The International Longevity Centre UK was established in 1997 as one of the members of the International Longevity Centre Global Alliance, an international network on longevity. 

Since our inception, we have published over 275 reports, organised over 350 events including the annual Future of Ageing conference.  

We work with central government, local government, the private sector, and professional and academic associations to provoke conversations and pioneer solutions for a society where everyone can thrive, regardless of age.