Elderly ‘support’ spending set to explode over next 40 years

Figures released by the Organisation for Economic Co-operation and Development (OECD) last month suggest that a combination of low birth rates, increasing life expectancy and a growing inability or unwillingness for people to take time off work to care for ageing relatives, will result in the country spending an additional £80bn a year on pensions, long term care services and the NHS by 2050.