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.
Read the transcript for this episode here.
Bronwen Maddox, CEO, Chatham House
Episode first published: 24 April 2023
Podcast recorded: 24 March 2023
All views expressed on this podcast are those of the contributors and don’t necessarily reflect those of ICAEW or its members.
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