Life expectancy is rising in many more economically developed countries (MEDCs). At present in the UK 10 million people are over the age of 65 (17% of the total population). This is predicted to rise to as many as 19 million by 2050, potentially 25% of the estimated UK population. Many other MEDCs are predicting a similar pattern.
As people get older, their need for state-funded healthcare increases, and the longer they live the more money a government needs to spend on healthcare, social care and state pensions. This is a problem, as support for the elderly is paid for by taxpayers. An increase in the number of older people leaves a smaller percentage of working people who are paying tax, which means that governments will struggle to pay to care for our older citizens.
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