Election manifestos lack long-term vision on longevity

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Election manifestos lack long-term vision on longevity

Party manifesto analysis by the International Longevity Centre-UK has highlighted a failure to deal with the ageing population and has called for the next government to deliver a five-point plan to begin to respond to this major challenge.

In a summary of the main party manifesto commitments, ILC-UK argued that this failing could hit all ages and could result in a drag on economic growth and the future delivery of public services.

ILC-UK argued that whoever wins the election should focus on a five-point plan to begin to respond to the major challenge of population ageing.

It argued the next government should focus on raising the productivity of the UK’s workforce to stop an ageing population resulting in economic stagnation and extending working lives.

According to the think-tank an increasing number and proportion of people are staying in the workforce as they age but still only around one in 10 people aged over 65 are working.

ILC-UK also called for smarter public services in particular health and social care and honesty from politicians about the future responsibilities of the state versus the individual.

It said politicians must make it explicit to UK citizens that the responsibility for the three pillars of the welfare state - basic retirement income, help during periods of unemployment, and support for health and social care - will lie both with the individual as well as with the state.

Baroness Sally Greengross, chief executive of ILC-UK said the state should always be there to provide a base level of support for those in need, but it may not be practical to promise anything more than this over an extended time horizon.

The final thing the think tank wants to see delivered is viable individualised solutions.

Given that the state cannot guarantee anything other than a base level of support over the long term, ILC-UK stated there must be viable alternative solutions that individuals can opt into to fill the gap.

In practise, the think-tank stated this means effective private savings and investment vehicles, accessible income protection insurance for the unemployed and insurance to cover some health and social care needs.

Baroness Greengross said: “Delivering a sustainable older society is critical to the future of the UK, but it requires politicians to think beyond the electoral cycle.

“With a coherent vision about how we face up to the challenge of ageing we can drive-up health and prosperity across the generations even with an ageing population.

“But these manifestos are somewhat devoid of the long-term vision necessary to get to grips with the challenge.”

emma.hughes@ft.com