Danny’s maths

And so Danny Alexander has further angered unions by making it clear that “painful decisions” are needed to reform public-sector pensions, including raising the retirement age. But his proposals should no come as a surprise. Rapid demographic transitions caused by rising life expectancy and declining fertility mean that the proportion of old to young is growing rapidly. But when the Lib Dem minister says that “people are living much longer now,” he is in fact underplaying how dramatic the change has been in the last decade.

According to the Office of National Statistics, the proportion of people in Britain aged 65-and-over increased from 15 per cent in 1984 to 16 per cent in 2009, an increase of 1.7 million people. Over the same period, the percentage of the population aged under-16 decreased from 21 per cent to 19 per cent:

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