January 15, 2017
Hard Brexit = Harder Lives?

As is frequently the case these days, what the plurality/majority votes for often produces the opposite of what voters apparently wanted.

A hard Brexit with deep cuts to immigration would force Britons into longer working lives in order to maintain a sustainable ratio of workers and pensioners, according to modelling conducted for the Guardian.

Rises in the state pension age are anticipated as a result of increased life expectancy and large numbers of baby boomers retiring. But further delays to pension payments will be necessary if current levels of immigration, which sustain the country’s old age dependency ratio, are not maintained, the Oxford University work indicates.

Prof Sarah Harper, the director of the Oxford Institute of Population Ageing and chair of the UK government’s foresight review on ageing societies, said: “The message from Brexit is if you don’t want immigrants, you’re going to have to work longer. That’s how the sums work.”

So what is it with societies’ unwillingness or inability to look to the immediate future and imagine realistically what might happen? Is it the pace of change, the amount of information needed to keep up with events, or the economic pressures involved in living in a new Gilded Age?

The latter.

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Posted by Chuck Dupree at January 15, 2017 04:40 PM
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