On Thursday June 12th, Chris Daykin, former HM Government Actuary* gave the fourth lecture in Politeia's 2014 Economic series Paying for the Future: Contributory or Tax funded Systems?
The changes proposed for the UK pensions system have been broadly accepted across the political spectrum. Along with the new single tier state pension to replace the NIC pension and pension benefit, an additional workplace auto-enrolment scheme is being introduced.
Western economies face rising costs for pensions, healthcare and other social goods. At the same time pressure on the public finances is greater. How can efficient and affordable social systems compete in an ever tougher global market?
Politeia's 2014 economic series explores how different international systems pay for the social policies which their societies expect. Addressing the series will be politicians, economists and actuaries; and specialists who have advised on, or created and introduced such systems.
For the list of speakers click here.
As the summer months, the news from the Treasury seems upbeat. Growth is back. Economic forecasts are being revised upwards. The mood has switched from gloom to boom.
In After Osbrown: Mending Monetary Policy, Douglas Carswell MPfor Clacton, who previously worked in fund management, warns all is not what it seems. The warning signs are already there: this may yet prove to be another credit-induced recovery. The UK is increasingly dependent on consumer spending and mortgage debt. Savings and investment are down. The UK’s current account deficit is widening.
Roger Cashmore, David Mowat, Simon Taylor
Energy costs are now centre-stage in the policy debate at Westminster as both government and opposition promise to tackle rising costs. But if energy is to be affordable in the longer term, a secure supply of energy is needed. So too is a variety of sources. For that, says Politeia’s Nuclear Options: Powering the Future, nuclear will be needed.
On Monday 19th May, Nick Sherry gave the third lecture in Politeia's 2014 series, Paying for the Future.
The Budget returned pensions to the centre of the economic agenda. While the Chancellor's plan to liberalise access to private pension pots has been welcomed, the real debate has yet to take place. Can the state pension be sustained at the levels now envisaged? Britain, like other western economies faces increased costs to pay for demographic change.