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Reform Senior Economist James Zuccollo wrote a letter to the editor that was published in the London Evening Standard.
“The Budget will aim to eliminate the deficit within the next three years. But the Chancellor’s short-term achievement will not secure the UK’s public finances in the long term. Throughout this Parliament, the Office for Budget Responsibility has warned that deficits and rising debt will return in years to come.
The UK’s ageing population puts huge pressure on public services. Current promises would see state spending on them increase by two-thirds over the next 50 years. Most likely, future governments will want either to cut health and pension entitlements or reform provision. The sooner we start with that reform, the better. Lifting health productivity is the only way to provide an NHS as we know it to future generations.”