An age-old question: who will pay your pension?

If spending keeps rising, so eventually will taxes. (Image: BusinessDesk)

Tue, 06 Jul 2021

Government debt is on an unsustainable path, expected to rise more than five-fold relative to the size of the economy by 2060. Treasury released the numbers in a consultation paper looking at long-term fiscal challenges ahead of issuing the 2021 Statement on the Long-Term Fiscal Position. Long-term modelling is subject to huge uncertainty but picks up slow-moving trends such as population ageing, and the compounding effect of doing nothing on the operating balance and debt.Change is needed. The question for the government...

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