NHS spending to strain public finances for next 50 years, OBR warns

[Northerner]

Extra health funding and a population that is ageing faster than previously expected will add to the burden of spending over the next 50 years, according to the Treasury’s independent forecaster.

The £20bn boost to the health budget by 2021-22 promised by Theresa May, coupled with falling immigration – which will cut the number of young and working age people – will increase the public deficit unless the government moves to increase taxes or take other measures to reduce spending, the Office for Budget Responsibility (OBR) said.

In its second annual report on the outlook for public finances, the OBR warned that the health budget was likely to rise to 8% of GDP by 2024 from the current level of just over 7%, and to 13.8% by the mid-2060s as the population ages at a faster rate and technological advances and increasing ill-health among older people burden the health service with extra costs.

https://www.theguardian.com/busines...ces-next-50-years-obr-treasury-forecast-warns

 

[trophywench]

Oh I see - the OBR are preparing us for a budget where all OAPS are taxed to the hilt whilst leaving the younger folk earning hundreds of thousands at least PA - and fund the Tories - untouched.

 

[Ljc]

I’m retired and just like many other retired folk I am still paying tax. It really infuriates me when we get all the blame, when imo it’s down to poor management by the various governments over the years

 

[Northerner]

There was a very interesting discussion on R4 last night, about how the whole planet is getting older, only place that isn't currently is sub-Saharan Africa. In every other part of the world populations are living longer and having fewer children. Many people are working 30 years of a 90+ year lifespan 😱

https://www.bbc.co.uk/programmes/b092t9b8

 

[bamba]

.... a population that is ageing faster than previously expected...

Are we not dying quickly enough then ?

 

[mikeyB]

The NHS has been a burden on spending for the last 70 years. That’s why within 3 years of its birth, folk had to pay for prescriptions. That’s why Labour dreamed up PFI, which took spending away from government accounting and crippled the NHS with unpayable debts.

With regard to the planet population getting older, like Lin, I still pay tax, so I’ll interact with the NHS with a clear conscience.

 

[Northerner]

Are we not dying quickly enough then ?

Nope, that's precisely the point. Unfortunately, what's also happening is that people are living longer, but much of those extra years are spent in ill-health Time to start colonising the galaxy! 😱 🙂 Or Soylent Green. Or Logan's Run 😱 😉

 

[Ljc]

Nope, that's precisely the point. Unfortunately, what's also happening is that people are living longer, but much of those extra years are spent in ill-health Time to start colonising the galaxy! 😱 🙂 Or Soylent Green. Or Logan's Run 😱 😉

Omg 🙂 don’t give them ideas

 

[Ljc]

With regard to the planet population getting older, like Lin, I still pay tax, so I’ll interact with the NHS with a clear conscience

Me too 🙂