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A grown-up conversation

Tax the baby boomers, cut their benefits, or cut something else

By Paul Johnson   February 2012

Good times—but now the party’s over as the health and pension costs of an ageing population put increasing pressure on spending

In response to Britain’s biggest peacetime deficit, the government is embarking on an unprecedented set of spending cuts. But we should not see these cuts as either the beginning, or the end, of dramatic change in the public sector. Not the beginning because the shape of public spending has changed dramatically in the past 30 years—and there are some elements of these plans that look like a continuation of that longer run trend. And not the end, because an…

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