An ageing population can bring economic, political and social advantages as well as disadvantages. Discuss this view.
by
alexdarcy3gmailcom (student)
“An ageing population can bring economic, political and social advantages as well as disadvantages.” Discuss this view.
An aging population, such as the in U.K can bring economic advantages as well as disadvantages. Firstly, the disadvantages of an aging population is that they rely more on health services with can put pressure on hospitals and GP clinic. This is experienced in the U.K where 48% of people over 70 have a long term illness. Therefore, in the U.K where there is the state NHS, this can cost the tax payer lots of money. Also, another economic disadvantage is that 70% of pensioners depend on the state for at least half their income. Therefore, this means that taxes will have to increase to pay for the pensions for the elderly. Finally, companies such as ‘Quiksilver’ who depend on the youthful market may find it hard to make business where the majority of the population is old. Yet, in contrast they can bring economic benefits. For example there is the ‘grey pound’ where elderly spend on niche markets such as the ‘Stannah Stairlift’, also they can spend their children’s inheritance money into the economy. Finally, they may also help the economy by working in places such as ‘B&Q’ during school and university terms where young workers cannot do so because they are studying.
