Michael Johnson: Raise taxes or stop making expensive promises

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The government must rein in pension promises, or find the funds to back them as the state's unfunded liabilities approach £6trn, argues the Centre for Policy Studies (CPS).

In a paper published today, CPS fellow Michael Johnson argued the racking up of unfunded promises was an "intergenerational injustice" caused by politicians fawning over older voters. Looking at...

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