TFA006 Paul Johnson on Pensions, Ageing Population & Government Spending

In today’s episode director of the Institute for Fiscal Studies Paul Johnson shares the true cost of running Britain.

Paul explores taxes, pensions including auto-enrollment, the ageing population, and the future of the state pension.

Paul is perhaps one the UK's known economists, a regular on BBC Radio 4, and writes a column for the Times Newspaper. He is also a published author with a Times bestseller Follow the Money, How Much Does Britain Cost.

Key topics discussed:

·         Are we receiving good value for our taxes?

·         Will our taxes keep on rising?

·         Should we just tax the rich?

·         Is growth the answer, or raising taxes?

·         How much does the state pension cost?

·         Does auto-enrollment solve the problem of funding one's retirement?

·         Does the risk measurement process need an overhaul?

Timestamps:

1:30 Paul Johnson’s journey and career so far.

3:15 Holding the government to account.

4:00 How much the government spends?

6:15 Where does the government get its money from?

7:45 What are the big three expenses for the government finances?

11:05 Are we getting good value for money?

15:00 Will taxes keep on rising?

16:15 Can we tax the rich more?

19:10 Is growth a better option than raising taxes?

22:00 Should defined benefit pensions invest more in equities?

23:14 Overhauling defined benefit default funds.

25:30 Does the pension system need an overhaul?

26:40 Is the state pension sustainable?

28:00 Has auto-enrollment been a success?

32:00 Closing thoughts and wrap up.

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Links & Guest Resources:

Buy Paul’s book, Follow The Money Here: https://www.amazon.co.uk/Follow-Money-much-does-Britain/dp/1408714019/ref=asc_df_1408714019/

Institute for Fiscal Studies website: https://ifs.org.uk/

Pauls blog page on the IFS website: https://ifs.org.uk/people/paul-johnson

Fundamental Asset Management website: https://fundamentalasset.com/

Follow Fundamental Asset on Twitter: https://twitter.com/fundasset

Connect with Chris on LinkedIn: https://www.linkedin.com/in/chris-boxall-835a4222/

Visit FYR For More Investor Related Podcasts: https://www.fundyourretirement.com/

Follow FYR on Twitter: https://twitter.com/FRetirement

Disclaimer: This presentation is for educational purposes only. All opinions and information are for demonstrational purposes and do not constitute investment advice. Trading and investing carries a high level of risk and are not right for everyone. If you need financial advice, consult with a regulated financial adviser in your country before making any decisions.