The Fiscal Implications of an Older Population in Northern Ireland
Commissioned by: NICVA
This research aims to identify the fiscal impact of the changing age profile of Northern Ireland. It looks at three components of public expenditure which represent 74% of total identifiable public expenditure in Northern Ireland. They are:
- Social security benefits
- State pension
- Education, health and care (collectively referred to as ʻservicesʼ).
The research compares this expenditure with revenue to show the overall fiscal balance. This revenue accounts for 70% of the total revenue attributable to Northern Ireland (the main omissions are: a proportion of VAT, stamp duty, business rates, and corporation, inheritance and capital gains taxes).
The research does not take into account indirect financial contributions made by the population through, for example, volunteering. Instead it focuses on what is recorded by government in its fiscal balance sheet.