Britain faces £50bn more spending cuts and tax rises to cover elderly care, warns IMF
To bring public debt down from 82.5pc to 60pc of GDP and pay for rising health and pension costs, the UK will need "a fiscal adjustment strategy" over the next 18 years equivalent to 11.3pc of national output, or roughly £170bn, according to IMF estimates. By comparison, the existing £123bn austerity programme is equivalent to 7.5pc of GDP.
Nicely timed before the PM makes a decision on carriers and F35. I bet he's wondering if we can afford any of them let alone all of the hidden additional support and operating costs!