William Mosseri-Marlio, Research Manager at Reform, wrote an article for The Times Red Box ahead of the Budget tomorrow. Although the country is on track to deliver a surplus by the next Parliament, more difficult times lie ahead. As the ageing population grows, this will only put more strain on public services including social security, the NHS and long-term care. However, the Government looks like it is doing something about it, with an expected review on social care funding to be announced and a re-think on the pension triple lock. The only thing left to tackle is the NHS, the single biggest threat to the country's long-term fiscal position.
"Structural reform is a thankless political task. The pain is acute, and future chancellors enjoy the benefits. Anyone with a spreadsheet, however, can see that inertia isn’t an option."
Read the full article here.