Here are some excerpts.
"If you go back 20 years and apply today’s spending and tax rates to the demographics of 2004 – changing nothing else, that would give the Chancellor an extra £84 billion a year to play with, enough to cut the basic rate of tax by about 13p in the pound. Unless something is done, every budget will feel like an austerity budget. Taxes per person will go up; public services will crumble under the load of an old population.
"....Demographics are the driver of history. Today, South Korea and Israel are both developed countries. But at current fertility rates every 100 Israelis can expect 210 grandchildren and the Koreans just 15. South Korea has created an economic miracle in my lifetime, but unless they fix this, that’s basically the end of the country.
"If we in the UK had kept the same fertility rate we had in 2010, then for every 100 people we would expect them to have 92 grandchildren. But the rate is dropping sharply: at current rates it would be just 55 grandchildren. Gulp.
"Among private renters in Greater London, around a third are white British. In greater London’s schools just over one in five school children are white British. The old conversations about “integration” and “assimilation” don’t really even make sense any more. In many places people cannot really integrate into the traditional majority culture because it doesn’t exist any more."
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