More Than 22 Million Brits to Rely on State by 2040

A whopping 22.7 million Britons are expected to be drawing benefits – including pensions – by 2040, according to latest research by the Adam Smith Institute. With just 34 million workers left to foot the bill…

By 2036, the Treasury will spend more on welfare (including the state pension) than it will be receiving in National Insurance tax receipts, despite Reeves’ NICs hikes, meaning the State Pension could be financially unsustainable by as early as 2036.[…] Read the rest