All in it together?

The chancellor’s mantra since the beginning of what’s becoming an era of austerity has been that “we’re all in this together”.

But a report today from the public spending watchdog, the Office for Budget Responsibility, makes it clear that Britain’s ageing population will mean that pressures on government finances will continue for many years to come – and that the costs and benefits will not be evenly spread.

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The cost of pensions, health and social care for the older generation will continue to rise, but there will be a shrinking sector of people of working age left to pay for it.

And that could be a recipe for economic warfare between the generations.

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