Reaching 100 the warning for the welfare state
August 7, 2011
The Times Newspaper this week has headlined on what we all know. Put simply a girl born today has a 1 in 3 chance of reaching three figures and a boy a 1 in 4 chance. So already the Welfare State is grappling with the current wave of baby boomers now hitting 65 with demand on health and social care services set to increase as the Coalition Government try and reduce and shrink public sector borrowing to 1.5% GDP by 2015/16. This is a huge political problem for all parties in the build up to the next election with the potential of some of us to depend for 60 of our 100 years on state support.
Radicalism and honesty from our politicians is called for in reviewing Pensions, the role of the private sector, and the increased responsibilities of the private individual in the coming decade. A healthy and honest wake up call is needed by all of us in recognising the levels of saving we all we need to do for our old age. Lets hope this becomes the leading political debate in the coming years before it is to late.
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