Oireachtas Joint and Select Committees
Wednesday, 5 July 2023
Committee on Budgetary Oversight
Sovereign Wealth Funds: Discussion (Resumed)
Barry Cowen (Laois-Offaly, Fianna Fail)
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I thank Mr. McGann. He has outlined in plain terms what the country faces regardless of the windfall taxes. It is ominous that there will be two people working to support one person over 65 years, where there are four today. It is a 50% decrease. Are there figures for the increase in the over 65s? Is there any projection there for the ratio of supports? The ratio of workers is going from four to two but the numbers living beyond 65 years will greatly increase again in 2050 just as it has increased in recent years.