Friday, 11 July 2014
Extending pension age ‘only way to clear UK debt’
‘Future generations will have to work longer to pay off Britain’s debts because of the pressure that Britain’s ageing population is putting on public finances, the independent financial watchdog has warned.
The Office for Budget Responsibility said that Coalition policies such as raising the state pension age and further cuts will reduce Britain’s debt as a proportion of national income by two thirds.
It found that without the measures, Britain’s debt would be £1.14 trillion higher in the next 50 years as the economy struggles to cope with an huge rise in the number of pensioners and the decline in the number of people working.’
