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Towering impact of old age 'time bomb' - Bell

 

The Chief Minister has issued his most serious warning yet about the scale of challenges ahead to fund welfare, pensions and health care in the Island.

Allan Bell says the impact of a rapidly ageing population on public spending budgets presents similar issues for both developed and developing nations.

Mr Bell says the old age ‘time bomb’ - the anticipated burden that our ageing population will place on taxpayers - is an issue which needs to be tackled now.

The chief minister says spending on benefits and pensions for Island residents has risen by £120 million in a decade, a rate of growth which cannot be sustained. He says difficult choices on what services government should fund lie ahead:

 

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