Ireland faces a surge in the number of older people as a proportion of the population, falling tax revenues and increased fiscal deficits, according to a new report by the Department of Finance.
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Ireland faces a surge in the number of older people as a proportion of the population, falling tax revenues and increased fiscal deficits, according to a new report by the Department of Finance.
The study says that without remedies the deficit could reach a significant 8% of national income driving the country's borrowing to almost 150% of the size of the economy or €117,000 per head in 40 years.
It warns if the debt reaches this level it would "considerably hinder the State’s ability to respond to crises or deliver public services and investment".
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So no change there then