Tax hikes predicted as population ages

The latest forecast from the Office for Budget Responsibility (OBR) said central protections showed spending - other than on debt interest - would fall slightly between 2017 and 2021 but as the population ages it would then rise by about 4% of GDP by 2063. Spending on health care, the state pension and long-term care will all increase, the report said. OBR chairman Robert Chote said: "The ageing of the population is likely to put pressure on the public finances, primarily as a result of upward pressure on public spending "The upward pressure comes primarily from health, state pensi...