Why isn’t the government talking about the major crisis in Britain that could topple the welfare state?

The government will have to find £36bn by 2030, and a staggering £83bn by 2040, to keep it going. That’s why it needs a wealth tax

James Moore
Thursday 03 January 2019 14:57
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To meet these figures, Philip Hammond would have to nearly double the basic rate of income tax
To meet these figures, Philip Hammond would have to nearly double the basic rate of income tax

How many more times do we have to repeat that Britain has an ageing population – which is going to cost a hell of a lot of money – for its politicians to wake up? A million times? Ten million times?

The Resolution Foundation has got the 2019 ball rolling early with a warning that if Britain simply wants to maintain the welfare state it has, it will have to find £36bn by 2030, and a staggering £83bn by 2040.

If you wanted to raise the second of those figures through income tax you’d have to nearly double the basic rate from the current 20p in the pound to 39p.

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