ICAEW Insights In Focus: Ageing population – a public finance timebomb?

In this special Insights In Focus episode, we discuss how the UK’s changing demographics are having an impact on public finances and policymaking.

The latest census revealed that almost a quarter of the UK’s population is now aged 60 or over. Meanwhile, recent research claims NHS spending will have to increase yearly by 3% to meet demand. There’s also a growing need to lay out plans for funding effective adult social care.

Finding politically sensitive and financially viable solutions is made all the more challenging by the impact of successive crises on public finances and the UK economy. How can the government meet this growing demand for services when it is committed to restricting spending?

To discuss the options available to policymakers, host Bronwen Maddox is joined by David Miles, Professor of Financial Economics at Imperial College and member of the Budget Responsibility Committee at the Office for Budget Responsibility; Carl Emmerson, Deputy Director of the Institute for Fiscal Studies; and Martin Wheatcroft, ICAEW adviser and fellow.

Links

ICAEW Tax Faculty https://www.icaew.com/technical/tax/tax-faculty ICAEW Insights Special: The future of tax and public spending https://www.icaew.com/insights/insights-specials/the-future-of-tax-and-public-spending 

 Host

Bronwen Maddox, CEO, Chatham House

Guests

David Miles, Professor of Financial Economics at Imperial College; member of the Budget Responsibility Committee at the Office for Budget Responsibility Carl Emmerson, Deputy Director, Institute for Fiscal StudiesMartin Wheatcroft, adviser and fellow, ICAEW

Producer

Natalie Chisholm

Episode first published: 24 April 2023
Podcast recorded: 24 March 2023