Its an RSA focus this Friday, in his comment this morning Paul Allen addresses how the time bomb of an ageing population and a diminishing workforce coupled with the economic climate provides the new government with a difficult challenge.
Time is ticking on this potentially explosive situation. Paul Allen argues that swift, decisive and well thought out action is required to ensure the needs of our elderly population are met.
In 2009, the UK population numbered 62 million: 38 million of working age, 9.2 million between 50 and 65 years, and 11.3 million over current state pension age. The forecast for 2031 is a 58 per cent increase in the number of people aged over 65, but just a 16 per cent increase in those at working age. This creates a huge imbalance between those who are earning and those likely to need care. However, the funding available for elderly care has been shrinking for some time and many local authorities have slashed budgets up to 400 per cent, with some regions reducing sheltered housing provision from £40 to just £11.75 per week. link to continue reading
Source: RSA
