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Old and broke: The long term outlook for the UK's public finances
According to the latest report from the Reform think tank, the UK faces a bleak future of rising taxes and rising deficits.
Two forces will defeat the Government’s attempts to reduce the deficit: the ageing population and the Government’s own policies to increase spending on the basic state pension and the National Health Service.
The dismal fiscal outlook means that the Government must hold firm on reform to public sector pensions, despite tomorrow’s strikes, and should resist ideas to spend more on long term care when the Dilnot Commission reports next week.