DOCSLIB.ORG

A NEW GENERATIONAL CONTRACT the Final Report of the Intergenerational Commission

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
A NEW GENERATIONAL CONTRACT the Final Report of the Intergenerational Commission A NEW GENERATIONAL CONTRACT The final report of the Intergenerational Commission intergencommission.org The Intergenerational Commission The Intergenerational Commission was convened by the Resolution Foundation to explore questions of intergenerational fairness that have risen up the national agenda. This report contains the Commission’s conclusions, drawing on a deep and wide-ranging examination of the experiences and prospects of diferent generations in Britain. It provides a comprehensive analysis of the intergenerational challenges the country faces and sets out a policy programme to tackle them. 1 THE INTERGENERATIONAL COMMISSION The Commission brought together leaders from business, academia and policy- making to devise a means of repairing the social contract between generations. The Commissioners, who directed the analytical priorities and policy recommendations presented in this report, have been: • David Willetts, Executive Chair of the Resolution Foundation (Commission Chair) • Vidhya Alakeson, Chief Executive of Power to Change • Kate Barker, Chairman of Trustees, British Coal Staf Superannuation Scheme • Torsten Bell, Director of the Resolution Foundation • Carolyn Fairbairn, Director General of the CBI • Geofrey Filkin, Chairman of the Centre for Ageing Better • John Hills, Professor of Social Policy at the London School of Economics • Paul Johnson, Director of the Institute for Fiscal Studies • Sarah O’Connor, Investigations Correspondent and columnist at the Financial Times • Frances O’Grady, General Secretary of the TUC • Ben Page, Chief Executive of Ipsos MORI • Nigel Wilson, Group Chief Executive of Legal & General 2 THE INTERGENERATIONAL COMMISSION The Commission has been run by the Resolution Foundation, an independent think tank that works to improve the living standards of those in Britain on low-to-middle incomes. Its analysis has been supported by a Technical Panel: • Matthew Whittaker, Deputy Director of the Resolution Foundation (Technical Panel Chair) • Kate Bell, Head of the Economic and Social Afairs Department at the TUC • Chris Curry, Director of the Pensions Policy Institute • Anna Dixon, Chief Executive of the Centre for Ageing Better • Bobby Dufy, Managing Director of the Ipsos MORI Social Research Institute • Frank Eich, Senior Advisor at the Bank of England • Laura Gardiner, Principal Researcher at the Resolution Foundation (Commission Secretary) • Paul Gregg, Professor of Economic and Social Policy at Bath University • Andrew Hood, Senior Research Economist at the Institute for Fiscal Studies • David Kingman, Senior Researcher at the Intergenerational Foundation • Abigail McKnight, Associate Professorial Research Fellow, London School of Economics • Rain Newton-Smith, Director of Economics at the CBI • James Plunkett, Director of Policy & Advocacy at Citizens Advice • Jonathan Portes, Professor of Economics and Public Policy, King’s College London • James Sefton, Professor of Economics at Imperial College London • Anna Vignoles, Professor of Education at Cambridge University • Kate Webb, Head of Policy at Shelter • Duncan Weldon, Head of Research at Resolution Group 3 Publications of the Intergenerational Commission All publications are available at the Commission’s website: intergencommission.org 1. Stagnation generation: The case for renewing the intergenerational contract L Gardiner (July 2016), Resolution Foundation 2. Votey McVoteface: Understanding the growing turnout gap between the generations L Gardiner (September 2016), Resolution Foundation 3. Live long and prosper: Demographic trends and their implications for living standards D Finch (January 2017), Resolution Foundation 4. As time goes by: Shifting incomes and inequality between and within generations A Corlett (February 2017), Resolution Foundation 5. Study, Work, Progress, Repeat? How and why pay and progression outcomes have difered across cohorts L Gardiner & P Gregg (February 2017), Resolution Foundation 6. The pay deficit: Measuring the efect of pension deficit payments on workers’ wages B Bell & M Whittaker (May 2017), Resolution Foundation 7. The generation of wealth: Asset accumulation across and within cohorts C D’Arcy & L Gardiner (June 2017), Resolution Foundation 8. The millennial bug: Public attitudes on the living standards of diferent generations H Shrimpton, G Skinner & S Hall (September 2017), Resolution Foundation & Ipsos MORI Social Research Institute 9. Home afront: Housing across the generations A Corlett & L Judge (September 2017), Resolution Foundation 10. Consuming forces: Generational living standards measured through household consumption D Hirsch, L Valadez-Martinez & L Gardiner (September 2017), Resolution Foundation 4 PUBLICATIONS 11. A Budget for intergenerational fairness? Tax and benefit options at the Autumn Budget from the perspective of diferent generations L Gardiner (November 2017), Resolution Foundation 12. As good as it gets? The adequacy of retirement income for current and future generations of pensioners D Finch & L Gardiner (November 2017), Resolution Foundation 13. The million dollar be-question: Inheritances, gifts, and their implications for generational living standards L Gardiner (December 2017), Resolution Foundation 14. A welfare generation: Lifetime welfare transfers between generations G Bangham, D Finch & T Phillips (February 2018), Resolution Foundation 15. Cross countries: International comparisons of intergenerational trends F Rahman & D Tomlinson (February 2018), Resolution Foundation 16. A silver lining for the UK economy? The intergenerational case for supporting longer working lives P Thomson (February 2018), Centre for Ageing Better 17. The kids aren’t alright: A new approach to tackle the challenges faced by young people in the UK labour market S Clarke & C D’Arcy (February 2018), Resolution Foundation 18. Home afairs: Options for reforming property taxation A Corlett & L Gardiner (March 2018), Resolution Foundation 19. Home improvements: Action to address the housing challenges faced by young people L Judge & D Tomlinson (April 2018), Resolution Foundation 20. Technical fault: Options for promoting human capital growth K Henehan & A Vignoles (April 2018), Resolution Foundation 21. Passing on: Options for reforming inheritance taxation A Corlett (May 2018), Resolution Foundation 22. The new wealth of our nation: The case for a citizen’s inheritance G Bangham (May 2018), Resolution Foundation 5 Acknowledgements This report has been prepared by members of the research team at the Resolution Foundation, led by Laura Gardiner (Secretary to the Intergenerational Commission) and Fahmida Rahman. We are indebted to a wide range of organisations and individuals who have contributed to this work, including the many people who have collaborated on research papers, contributed to events and roundtables and submitted evidence or policy proposals. We are particularly indebted to the Commissioners who have directed this work, and members of the Technical Panel who contributed their time and expertise generously. This work contains statistical data from the Ofce for National Statistics (ONS) which is Crown Copyright. The use of the ONS statistical data in this work does not imply the endorsement of the ONS in relation to the interpretation or analysis of the statistical data. This work uses research datasets which may not exactly reproduce National Statistics aggregates. 6 Contents Foreword 8 Executive summary 9 Key facts and recommendations 20 Section 1: Introduction Chapter 1: Generational progress – a promise under threat 25 Section 2: Outcomes and prospects for living standards across generations Chapter 2: Jobs and pay – work in progress 37 Chapter 3: Houses – not so safe 55 Chapter 4: Pensions – an uncertain future 71 Chapter 5: The state – in it together 85 Section 3: Revisiting the generational settlement Chapter 6: Living standards across the generations – progress on pause 105 Chapter 7: Renewing the generational contract – a blueprint for change 119 Section 4: A policy agenda for renewing the generational contract Chapter 8: Jobs and pay – progress in work 125 Chapter 9: Houses – renovating the market 145 Chapter 10: Pensions – saving for tomorrow 171 Chapter 11: The state – delivering for all generations 193 Section 5: Conclusion Chapter 12: A better, more united Britain 217 A new generational contract: Our policy recommendations 218 Commissioner biographies 225 7 FOREWORD ociety is held together by mutual dependence between the generations. Ten years ago I published The Pinch, arguing S that we were in danger of breaking these ties because younger generations were having a hard time when it came to their pay, housing and pensions. That was not an attempt to incite generational warfare – one of the strengths of our society is that diferent generations do still care about each other. Rather, it was an attempt to promote gener- ational thinking. It is very good news that fairness between the generations has now entered the mainstream political debate. Too often we were drifting into decisions and policies which weakened our generational contract without being aware of what we were doing. Back then it was surprisingly hard to find detailed evidence of what was happening. But the high calibre membership of the Intergenerational Commission emphasises how much attention the issue now commands. By drawing on the fantastic research capacities of our team at the Resolution Foundation and outside experts we have assembled more detailed evidence than ever before on the experience
Load more

Recommended publications
  • Intergenerational Solidarity and the Needs of Future Generations
    United Nations A/68/x.. General Assembly Distr.: General 5 August 2013 Original: English Word count (including footnotes/endnotes): 8419 Sixty-eighth session Item 19 of the provisional agenda Sustainable Development: Intergenerational solidarity and the needs of future generations Report of the Secretary-General Summary The present report is prepared pursuant to paragraph 86 of the Rio+20 outcome document, which requests the Secretary-General to provide a report on the need for promoting intergenerational solidarity for the achievement of sustainable development, taking into account the needs of future generations. The report evaluates how the need for intergenerational solidarity could be addressed by the United Nations system and analyses how the issue of intergenerational solidarity is embedded in the concept of sustainable development and existing treaties, and declarations, resolutions, and intergovernmental decisions. It also reviews the conceptual A/68/100 A/68/x.. and ethical underpinnings of intergenerational solidarity and future generations and how the issue has been taken into consideration in policy-making at the national level in a variety of institutions. The report outlines options for possible models to institutionalize concern for future generations at the United Nations level, as well as suggesting options for the way forward. 2 A/68/x.. Contents Paragraphs Page I. Introduction………………………………………… II. Conceptual framework (a) Conceptual and ethical dimensions (b) Economics III. Existing arrangements and lessons learnt (a) Needs of future generations in international legal instruments (b) Legal provisions at the national level (c) National institutions for future generations (d) Children and youth (e) Proposals related to a High Commissioner for Future Generations IV.
    [Show full text]
  • Models for Protecting the Environment for Future Generations
    Models for Protecting the Environment for Future Generations Science and Environmental Health Network The International Human Rights Clinic at Harvard Law School Models for Protecting the Environment for Future Generations Science and Environmental Health Network The International Human Rights Clinic at Harvard Law School October 2008 http://www.sehn.org http://www.law.harvard.edu/programs/hrp The Science & Environmental Health Network (“SEHN”) engages communities and governments in the effective application of science to restore and protect public and ecosystem health. SEHN is a leading proponent of the precautionary principle as a basis for public policy. Our goal is policy reform that promotes just and sustainable communities, for this and future generations. The International Human Rights Clinic (IHRC) at Harvard Law School is a center for critical thought and active engagement in human rights. The IHRC provides students the opportunity to engage directly with the vital issues, insti- tutions and processes of the human rights movement. Each year, the IHRC part- ners with dozens of local and international non-governmental organizations to work on human rights projects ranging from litigation, on-site investigations, legal and policy analysis, report drafting for international oversight bodies, and the development of advocacy strategies. MODELS FOR PROTECTING THE ENVIRONMENT FOR FUTURE GENERATIONS Table of Contents I. Summary 1 II. Legal Bases for Present Promotion of Future Interests 3 A. The Interests of Future Generations 4 B. Duties to and Rights of Future Generations 6 C. Guardians and Trustees for Future Generations 9 III. Legal Mechanisms and Institutions for Protecting the Environment for Future Generations 11 A.
    [Show full text]
  • Intergenerational Fairness
    House of Commons Work and Pensions Committee Intergenerational fairness Third Report of Session 2016–17 HC 59 House of Commons Work and Pensions Committee Intergenerational fairness Third Report of Session 2016–17 Report, together with formal minutes relating to the report Ordered by the House of Commons to be printed 2 November 2016 HC 59 Published on 6 November 2016 by authority of the House of Commons Work and Pensions Committee The Work and Pensions Committee is appointed by the House of Commons to examine the expenditure, administration, and policy of the Office of the Department for Work and Pensions and its associated public bodies. Current membership Frank Field MP (Labour, Birkenhead) (Chair) Heidi Allen MP (Conservative, South Cambridgeshire) Mhairi Black MP (Scottish National Party, Paisley and Renfrewshire South) Ms Karen Buck MP (Labour, Westminster North) James Cartlidge MP (Conservative, South Suffolk) Neil Coyle MP (Labour, Bermondsey and Old Southwark) John Glen MP (Conservative, Salisbury) Richard Graham MP (Conservative, Gloucester) Luke Hall MP (Conservative, Thornbury and Yate) Steve McCabe MP (Labour, Birmingham, Selly Oak) Craig Mackinlay MP (Conservative, South Thanet) Powers The Committee is one of the departmental select committees, the powers of which are set out in House of Commons Standing Orders, principally in SO No 152. These are available on the internet via www.parliament.uk. Publication Committee reports are published on the publications page of the Committee’s website and in print by Order of the House. Evidence relating to this report is published on the inquiry page of the Committee’s website. Committee staff The current staff of the Committee are Adam Mellows-Facer (Clerk), Margaret McKinnon (Second Clerk), Ian Hart (Committee Specialist), Libby McEnhill (Committee Specialist), Rod McInnes (Committee Specialist), Alison Pickard (Senior Committee Assistant), and Jessica Bridges-Palmer (Media Officer).
    [Show full text]
  • Integrating Sustainable Development and Children's Rights
    social sciences $€ £ ¥ Article Integrating Sustainable Development and Children’s Rights: A Case Study on Wales Rhian Croke 1,*, Helen Dale 2 , Ally Dunhill 3, Arwyn Roberts 2 , Malvika Unnithan 4 and Jane Williams 5 1 Hillary Rodham Clinton School of Law, Swansea University, Swansea SA2 8PP, UK 2 Lleisiau Bach/Little Voices, National Lottery People and Places Fund 2012-2020, Swansea and Bangor University, Swansea SA2 8PP, UK; [email protected] (H.D.); [email protected] (A.R.) 3 Independent Consultant and Researcher, Kingston Upon Hull HU6 8TA, UK; [email protected] 4 Northumbria University Law School, Newcastle upon Tyne NE1 8ST, UK; [email protected] 5 Observatory on the Human Rights of Children, Swansea University, Swansea SA2 8PP, UK; [email protected] * Correspondence: [email protected] or [email protected] Abstract: The global disconnect between the Sustainable Development Goals (SDGs) and the Conven- tion on the Rights of the Child (CRC), has been described as ‘a missed opportunity’. Since devolution, the Welsh Government has actively pursued a ‘sustainable development’ and a ‘children’s rights’ agenda. However, until recently, these separate agendas also did not contribute to each other, al- though they culminated in two radical and innovative pieces of legislation; the Rights of Children and Young Persons (Wales) Measure (2013) and the Well-being and Future Generations (Wales) Act (2015). This article offers a case study that draws upon the SDGs and the CRC and considers how recent Citation: Croke, Rhian, Helen Dale, Ally Dunhill, Arwyn Roberts, guidance to Welsh public bodies for implementation attempts to contribute to a more integrated Malvika Unnithan, and Jane Williams.
    [Show full text]
  • The Future Generations Report 2020
    The Future Generations Report 2020 Let's create the future together Chapter 3 Progress against the well-being goals Future Generations Report 2020 www.futuregenerations.wales Future Generations Report 2020 Progress against the well-being goals: A Prosperous Wales The Vision – A Prosperous Wales in 2050 05 People’s perception of progress towards this goal 08 Challenges and opportunities for change 10 Ensure people can secure decent, fair work 1 0 Transition urgently to a low carbon society 14 which works within its environmental limits Ensure we use natural resources efficiently, 23 recognising the limits of the global environment Skills fit for the future Procure goods and services in ways that 24 support economic, social, environmental and 25 cultural well-being Support inclusive local economies 25 Recommendations 29 Resources 34 Future Generations Report 2020 www.futuregenerations.wales A Prosperous Wales Our economic system is broken. We have Underpinning these issues is the way our seen widening economic inequalities, current economic model prioritises profit especially as the very rich get richer, along over the well-being of people and planet. with increasing levels of insecurity, homelessness, in-work poverty, mental health The aspirations of the Well-being of Future conditions and loneliness. As trust in Generations Act aim to redefine our institutions declines, people turn inwards or approach to the economy. In the Act, this against each other; deepening divisions goal is defined as: within our society. An innovative, productive and low carbon society which recognises the limits of the Our planet is also on the brink of the sixth global environment and therefore uses mass extinction, as catastrophic climate and resources efficiently and proportionately ecological breakdown get closer and closer.
    [Show full text]
  • Citizen First, Designer Second Pdf, Epub, Ebook
    CITIZEN FIRST, DESIGNER SECOND PDF, EPUB, EBOOK Rejane Dal Bello | 216 pages | 10 Dec 2020 | Counter-Print | 9781838186500 | English | Bletchingley, United Kingdom Citizen First, Designer Second PDF Book Rewards Redemption Businesses in the Accelerated Rewards Tier may redeem points for i cash back to a First Citizens checking or savings account or credit card statement credits, ii credit towards a First Citizens personal loan or mortgage principal, iii Pay Me Back statement credits, iv travel rewards, including airline tickets, hotel, car rentals, cruises and tours, v retail gift cards and certificates and vi merchandise and vii donations. A similar argument is that experience with capitalism promotes democratization as economic freedom creates pressures for political freedom. Reward dollars expiring during the year will be cleared from your Program Account on the last day of the month in which they expire. External Websites. The discounts and offers are friendly as well. Since , the title of "Honored veteran of the factory's work" has been awarded, since "Factory Prize Laureate" and "Honorary Labor Dynasty of the Plant". Yes, there is… By far, the easiest way to get a passport is through ancestry. Earn points by making everyday purchases and pay no annual rewards program fee. For the patriot and lover of our nation's history, get our founding documents framed and in your home. Zlatoust Machine-Building Plant was founded in as an enterprise specializing in the manufacture of small arms. Open a Business Savings account. Reward dollars expiring during the year will be cleared from the Program Account on the last day of the month in which they expire.
    [Show full text]
  • The Future of Public Service Broadcasting
    House of Commons Digital, Culture, Media and Sport Committee The future of public service broadcasting Sixth Report of Session 2019–21 Report, together with formal minutes relating to the Report Ordered by the House of Commons to be printed 17 March 2021 HC 156 Published on 25 March 2021 by authority of the House of Commons The Digital, Culture, Media and Sport Committee The Digital, Culture, Media and Sport Committee is appointed by the House of Commons to examine the expenditure, administration and policy of the Department for Digital, Culture, Media and Sport and its associated public bodies. Current membership Julian Knight MP (Conservative, Solihull) (Chair) Kevin Brennan MP (Labour, Cardiff West) Steve Brine MP (Conservative, Winchester) Alex Davies-Jones MP (Labour, Pontypridd) Clive Efford MP (Labour, Eltham) Julie Elliott MP (Labour, Sunderland Central) Rt Hon Damian Green MP (Conservative, Ashford) Rt Hon Damian Hinds MP (Conservative, East Hampshire) John Nicolson MP (Scottish National Party, Ochil and South Perthshire) Giles Watling MP (Conservative, Clacton) Heather Wheeler MP (Conservative, South Derbyshire) Powers The Committee is one of the departmental select committees, the powers of which are set out in House of Commons Standing Orders, principally in SO No. 152. These are available on the internet via www.parliament.uk. Publication © Parliamentary Copyright House of Commons 2021. This publication may be reproduced under the terms of the Open Parliament Licence, which is published at www.parliament.uk/site-information/copyright-parliament/. Committee Reports are published on the Committee’s website at www.parliament.uk/dcmscom and in print by Order of the House.
    [Show full text]
  • Future Generations Commissioner for Wales Annual Report 2019-2020
    Future Generations Commissioner for Wales Annual Report 2019-2020 ACE’s Housing 2050 2020 Changemakers 2015 Future Generations Transport Health Planning Skills Acting today, for a better tomorrow. Climate change Future Generations Commissioner for Wales Annual Report 2019-2020 We have produced this document to be read as an interactive presentation. Where you see these signs: Find out more Read more Contents Page www.futuregenerations.wales 3 www.futuregenerations.wales Annual Report 2019-2020 Contents Annual Report and Accounts 2019-2020 Acting today, for a better tomorrow. Purpose 1 Purpose 3 Next 12 months Highlighting and acting Creating a movement Future plans. Accountability Report upon the big issues and for change What we will do in the challenges facing future next 12 months generations Page 12 Page 70 Page 92 Page 96 Purpose 2 Purpose 4 Supporting and Walking the Talk Financial Statements challenging public - Stories from our bodies to use the personal journey Well-being of Future – living the change we Generations Act want to see in others Page 54 Page 78 Page 117 4 www.futuregenerations.wales 5 Annual Report 2019-2020 Life always awaits “ for a crisis to occur before “ revealing itself at its most brilliant. Foreword Paul Coelho Sophie Howe Future Generations Commissioner for Wales I have been in post as Wales’ first Future Generations Commissioner since 2016. During that time, it’s fair to say I’ve talked about future generations with just about everyone I’ve met. Personal highlights for me this year have been the publication
    [Show full text]
  • Our Common Future
    Report of the World Commission on Environment and Development: Our Common Future Table of Contents Acronyms and Note on Terminology Chairman's Foreword From One Earth to One World Part I. Common Concerns 1. A Threatened Future I. Symptoms and Causes II. New Approaches to Environment and Development 2. Towards Sustainable Development I. The Concept of Sustainable Development II. Equity and the Common Interest III. Strategic Imperatives IV. Conclusion 3. The Role of the International Economy I. The International Economy, the Environment, and Development II. Decline in the 1980s III. Enabling Sustainable Development IV. A Sustainable World Economy Part II. Common Challenges 4. Population and Human Resources I. The Links with Environment and Development II. The Population Perspective III. A Policy Framework 5. Food Security: Sustaining the Potential I. Achievements II. Signs of Crisis III. The Challenge IV. Strategies for Sustainable Food Security V. Food for the Future 6. Species and Ecosystems: Resources for Development I. The Problem: Character and Extent II. Extinction Patterns and Trends III. Some Causes of Extinction IV. Economic Values at Stake V. New Approach: Anticipate and Prevent VI. International Action for National Species VII. Scope for National Action VIII. The Need for Action 7. Energy: Choices for Environment and Development I. Energy, Economy, and Environment II. Fossil Fuels: The Continuing Dilemma III. Nuclear Energy: Unsolved Problems IV. Wood Fuels: The Vanishing Resource V. Renewable Energy: The Untapped Potential VI. Energy Efficiency: Maintaining the Momentum VII. Energy Conservation Measures VIII. Conclusion 8. Industry: Producing More With Less I. Industrial Growth and its Impact II. Sustainable Industrial Development in a Global Context III.
    [Show full text]
  • Intergenerational Transmission of Disadvantage: Mobility Or Immobility Across Generations? a Review of the Evidence for OECD Countries
    DELSA/ELSA/WD/SEM(2007)7 Intergenerational Transmission of Disadvantage: Mobility or Immobility across Generations? A Review of the Evidence for OECD Countries Anna Cristina d’Addio 52 OECD SOCIAL, EMPLOYMENT AND MIGRATION WORKING PAPERS Unclassified DELSA/ELSA/WD/SEM(2007)7 Organisation de Coopération et de Développement Economiques Organisation for Economic Co-operation and Development ___________________________________________________________________________________________ English text only DIRECTORATE FOR EMPLOYMENT, LABOUR AND SOCIAL AFFAIRS EMPLOYMENT, LABOUR AND SOCIAL AFFAIRS COMMITTEE Unclassified DELSA/ELSA/WD/SEM(2007)7 Cancels & replaces the same document of 29 March 2007 OECD SOCIAL, EMPLOYMENT AND MIGRATION WORKING PAPERS NO. 52 INTERGENERATIONAL TRANSMISSION OF DISADVANTAGE: MOBILITY OR IMMOBILITY ACROSS GENERATIONS? A REVIEW OF THE EVIDENCE FOR OECD COUNTRIES Anna Cristina d'Addio JEL Classification: D31, I32, J62, I2, I38 All social, Employment and Migration Working Papers are now available through OECD's Internet website at http://www.oecd.org/els only text English Document complet disponible sur OLIS dans son format d'origine Complete document available on OLIS in its original format DELSA/ELSA/WD/SEM(2007)7 DIRECTORATE FOR EMPLOYMENT, LABOUR AND SOCIAL AFFAIRS http://www.oecd.org/els OECD SOCIAL, EMPLOYMENT AND MIGRATION WORKING PAPERS http://www.oecd.org/els/workingpapers This series is designed to make available to a wider readership selected labour market, social policy and migration studies prepared for use within the OECD. Authorship is usually collective, but principal writers are named. The papers are generally available only in their original language – English or French – with a summary in the other. Comment on the series is welcome, and should be sent to the Directorate for Employment, Labour and Social Affairs, 2, rue André-Pascal, 75775 PARIS CEDEX 16, France.
    [Show full text]
  • Fiscal Policy Issues in the Aging Societies
    Public Disclosure Authorized DISCUSSION PAPER MFM Global Practice Public Disclosure Authorized No. 1 March 2015 Zeljko Bogetic Harun Onder Public Disclosure Authorized Anil Onal Emilia Skrok Anita Schwartz Hernan Winkler Public Disclosure Authorized MFM DISCUSSION PAPER NO. 1 Abstract Aging may be one of the most far-reaching processes defining the economic, fiscal, and social changes societies are likely to experience over the next 40 years. The demographic consequences of aging will have a dramatic impact on labor markets, economic growth, social structures—and government budgets. These issues have gained urgency after the second largest global recession in the past 100 years. Based on a broad comparative analysis of countries that include the EU and non-EU European and Central Asian countries, as well as several case studies and model simulations, the paper seeks to provide broad answers—tailored in part to distinct groups of countries according to their aging-fiscal profiles–– to major questions facing governments’ budgets in aging societies: What are the fiscal-aging profiles of Western European, emerging European, and Central Asian countries? In other words, how good or bad is their fiscal situation—“initial conditions”—in view of their emerging aging-related problems? What kind of public spending pressures are likely to emerge in the coming decades, and what will be their relative importance? How do countries compare in terms of the possible impacts of aging on growth and long-term debt sustainability? What can be learned from
    [Show full text]
  • Teachers' Notes
    Teachers’ notes Land Use and Economic Activity Suggested activities Learning outcomes By the end of the unit students should be able to: • identify different land usage in Northern Ireland • identify the differences between urban and rural land use • understand that land use can be related to the climate of the area • recognise that land use can change over time • know that there are three main types of economic activity • deÞ ne the characteristics of each type of economic activity • identify examples of the three main types of economic activity in Northern Ireland • realise that speciÞ c economic activities are suited to speciÞ c locations • recognise that economic activity changes through time • identify some of the major economic activities that characterise Northern Ireland now and in the past • realise that different economic activities demand different levels of labour and capital. Students will develop an understanding of issues relating to human interaction with land - ie: • understand that land use can lead to a conß ict between social, economic and environmental needs [Key Element: Cultural Understanding, Economic Awareness, Education for Sustainable Development] • understand that changing economic activity has an impact on population and settlement patterns [Key Element: Economic Awareness, Education for Sustainable Development] • appreciate that different economic activities have an impact on the environment [Key Element: Economic Awareness, Education for Sustainable Development] • recognise ways to conserve natural resources
    [Show full text]