Tag #Economic Sustainability

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thetimes.com

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Aug 31, 04:14

Varying European Pension Systems: A Comparison

Germany, Sweden, Denmark, and France showcase diverse approaches to state pensions, highlighting contrasting financial situations and policy responses to aging populations and economic challenges.

Varying European Pension Systems: A Comparison

Germany, Sweden, Denmark, and France showcase diverse approaches to state pensions, highlighting contrasting financial situations and policy responses to aging populations and economic challenges.

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Reduced Inequality

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How does Germany's proposed child savings plan impact its future pension system?

Germany's plan encourages savings, potentially reducing future state pension burdens by supplementing retirement income. A child receiving €10 for 11 years could see their fund grow to approximately €107,000 by retirement, assuming an 8% annual return on the DAX.

welt.de

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Jul 28, 07:13

German Employers Warn of Welfare State Collapse, Urge Immediate Reform

German employers warn of a welfare state collapse due to €25 billion in administrative costs, urging reforms to ensure those working are better off and to prevent political instability.

German Employers Warn of Welfare State Collapse, Urge Immediate Reform

German employers warn of a welfare state collapse due to €25 billion in administrative costs, urging reforms to ensure those working are better off and to prevent political instability.

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What are the immediate consequences of Germany's rising social security costs and how will the proposed reforms impact the country's political landscape?

Germany's employers warn of a looming collapse of the welfare state, citing unsustainable costs and urging swift reform. Employer president Rainer Dulger highlighted €25 billion in administrative costs within social security, advocating for efficiency improvements and lower labor costs.

welt.de

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Jul 17, 16:15

DIW Proposes "Boomer-Soli" Tax Amid Unsustainable German Pension System

The German Institute for Economic Research (DIW) proposed a "Boomer-Soli" tax on wealthier retirees to aid lower-income pensioners, highlighting the unsustainable German pension system facing rising contributions, government subsidies, and a shrinking workforce due to declining birth rates; however,...

DIW Proposes "Boomer-Soli" Tax Amid Unsustainable German Pension System

The German Institute for Economic Research (DIW) proposed a "Boomer-Soli" tax on wealthier retirees to aid lower-income pensioners, highlighting the unsustainable German pension system facing rising contributions, government subsidies, and a shrinking workforce due to declining birth rates; however,...

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Reduced Inequality

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What immediate actions are needed to address the unsustainable German pension system, considering its financial strain and the growing imbalance between contributors and retirees?

The German government's inaction on pension reform is causing growing concern, as evidenced by the DIW's proposal of a "Boomer-Soli" tax on wealthier retirees to support lower-income pensioners. This highlights the unsustainable nature of the current system, characterized by rising contributions and government subsidies, and the need for a fairer distribution of burdens.

elpais.com

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May 26, 22:10

Delayed Retirements Bolster Spain's Pension System Amidst Financial Strain

In Spain, the rising number of delayed retirements, reaching 11.2% in the first two months of 2024 (over 7,150), is a key factor in addressing the financial stability of the pension system, currently facing a €126.173 billion debt, while also facing pressure to establish reduced retirement coefficie...

Delayed Retirements Bolster Spain's Pension System Amidst Financial Strain

In Spain, the rising number of delayed retirements, reaching 11.2% in the first two months of 2024 (over 7,150), is a key factor in addressing the financial stability of the pension system, currently facing a €126.173 billion debt, while also facing pressure to establish reduced retirement coefficie...

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Decent Work and Economic Growth

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What immediate impact is the rising number of delayed retirements having on the Spanish pension system?

The Spanish pension system's financial stability, recently questioned, is being addressed by increasing state funding and encouraging delayed retirement. One in ten retirees now delays retirement beyond the legal age (65 or 68, depending on contributions), significantly increasing the average retirement age to 65.1 years from 64.4 in 2019.

elpais.com

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Mar 31, 19:14

Spain's Pension System Passes Initial Sustainability Review

Spain's Fiscal Authority (Airef) reported that the pension system's income is sufficient, requiring no further adjustments, based on positive employment data (21 million contributors, 12% drop in temporary work) and the 2021-2023 pension reforms; however, long-term sustainability beyond 2050 remains...

Spain's Pension System Passes Initial Sustainability Review

Spain's Fiscal Authority (Airef) reported that the pension system's income is sufficient, requiring no further adjustments, based on positive employment data (21 million contributors, 12% drop in temporary work) and the 2021-2023 pension reforms; however, long-term sustainability beyond 2050 remains...

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No Poverty

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What is the immediate impact of the Airef's report on Spain's pension system?

Spain's pension system passed its first sustainability review, showing no need for additional adjustments, according to the country's Fiscal Authority (Airef). The report highlights a projected net pension expenditure of 13.2% of GDP between 2022 and 2050, below the threshold. This positive assessment is based on the current reforms and strong employment data, including 21 million social security contributors and a 12% decrease in temporary contracts.

elmundo.es

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Jan 30, 04:09

Spain's Public Employee Healthcare System Faces Collapse

Spain's administrative mutualism system, providing healthcare to 2.4 million public employees, faces financial collapse due to rising costs and insufficient premium increases, threatening private healthcare providers and potentially overloading the public system.

Spain's Public Employee Healthcare System Faces Collapse

Spain's administrative mutualism system, providing healthcare to 2.4 million public employees, faces financial collapse due to rising costs and insufficient premium increases, threatening private healthcare providers and potentially overloading the public system.

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Good Health and Well-being

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How does the current financial imbalance in the mutualism system relate to broader trends in healthcare costs and the aging population in Spain?

The unsustainable financial situation of Spain's administrative mutualism system is linked to inflation, expanded benefits, an aging beneficiary population, the impact of Covid-19, and increased healthcare investment. Public health spending increased by 53% over the last decade, while mutual premiums rose by only 32%, creating a significant funding gap. This has resulted in substantial losses for the mutualities.

bbc.com

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Aug 3, 10:12

Tollymore Outdoor Centre to Close for Review

Tollymore National Outdoor Centre in County Down, Northern Ireland, will close for up to a year due to financial unsustainability (£250,000 income vs. over £1.3m cost in 2024) and storm damage, resulting in staff redundancies and impacting numerous sports clubs and schools.

Tollymore Outdoor Centre to Close for Review

Tollymore National Outdoor Centre in County Down, Northern Ireland, will close for up to a year due to financial unsustainability (£250,000 income vs. over £1.3m cost in 2024) and storm damage, resulting in staff redundancies and impacting numerous sports clubs and schools.

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Quality Education

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What are the immediate consequences of Tollymore National Outdoor Centre's closure, and how does this impact the local community and outdoor recreation sector?

Tollymore National Outdoor Centre in County Down, Northern Ireland, will close for up to a year due to financial unsustainability and storm damage. This closure impacts staff, resulting in redundancies and affecting numerous sports clubs and schools that utilize the facility for training and activities. The center's £250,000 income in 2024 fell short of its over £1.3 million operational costs.

welt.de

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Jul 27, 13:13

Germany's Pension Crisis: Minister Urges Longer Working Lives

German Economy Minister Katherine Reiche advocates for extending working lives to address the unsustainable €100 billion yearly deficit in the pension system, fueled by increased life expectancy and a shrinking workforce-retiree ratio of 2:1 compared to 6:1 in 1957.

Germany's Pension Crisis: Minister Urges Longer Working Lives

German Economy Minister Katherine Reiche advocates for extending working lives to address the unsustainable €100 billion yearly deficit in the pension system, fueled by increased life expectancy and a shrinking workforce-retiree ratio of 2:1 compared to 6:1 in 1957.

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Decent Work and Economic Growth

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What immediate actions are needed to address Germany's unsustainable pension system, given its €100 billion annual shortfall and shrinking worker-to-retiree ratio?

German Economy Minister Katherine Reiche has urged Germans to work longer, citing an unsustainable increase in life expectancy and a shrinking ratio of workers to retirees. The current system faces a yearly shortfall exceeding €100 billion, requiring immediate reform to ensure long-term viability.

smh.com.au

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Jun 1, 22:10

Australia's Persistent Budget Deficit: A Looming Fiscal Crisis

Australia's structural budget deficit is projected to persist until 2036, driven by increased spending and relatively low taxation compared to OECD averages, necessitating revenue increases and tax reform to achieve fiscal sustainability.

Australia's Persistent Budget Deficit: A Looming Fiscal Crisis

Australia's structural budget deficit is projected to persist until 2036, driven by increased spending and relatively low taxation compared to OECD averages, necessitating revenue increases and tax reform to achieve fiscal sustainability.

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Reduced Inequality

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How does Australia's tax system contribute to the widening budget gap, and what are the potential reforms?

The current fiscal situation reflects a mismatch between high service expectations and relatively low taxation. Australia's tax collection is 5 percentage points below the OECD average, while spending has grown significantly, particularly in recent decades. This structural gap is worsened by a narrowing tax base due to an aging population and costly tax concessions.

elmundo.es

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Apr 7, 01:12

Spain Faces Looming Fiscal Crisis Due to Aging Population

Spain's aging population is drastically increasing public spending, particularly in pensions and healthcare, according to a new Airef report projecting a 7% deficit and 130% debt-to-GDP ratio by 2050 without reforms.

Spain Faces Looming Fiscal Crisis Due to Aging Population

Spain's aging population is drastically increasing public spending, particularly in pensions and healthcare, according to a new Airef report projecting a 7% deficit and 130% debt-to-GDP ratio by 2050 without reforms.

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How do recent pension reforms affect the long-term sustainability of Spain's public spending?

The Autoridad Independiente de Responsabilidad Fiscal (Airef) projects a continued increase in public spending, particularly in pensions (to 16% of GDP by 2050), healthcare, and long-term care. These increases are driven by demographic changes, specifically the aging of the baby boomer generation. Conversely, spending on unemployment and education is expected to decrease.

elpais.com

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Mar 4, 10:13

Spanish Pension Generosity Rises Despite Reforms

A new report reveals that despite recent pension reforms, a typical Spanish worker retiring in 2025 will receive 62% more in pension payments than their total contributions, a rise from 55% in 2020, due to increased life expectancy and lower projected GDP growth.

Spanish Pension Generosity Rises Despite Reforms

A new report reveals that despite recent pension reforms, a typical Spanish worker retiring in 2025 will receive 62% more in pension payments than their total contributions, a rise from 55% in 2020, due to increased life expectancy and lower projected GDP growth.

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How do the findings on life expectancy and GDP growth projections affect the observed increase in pension generosity despite the reforms?

The study uses the Actuarial Equity Factor to measure pension generosity. While reforms slightly improved equity among retirees in 2025 compared to 2020, the increase in life expectancy and lower projected GDP growth offset these improvements, resulting in a higher Factor.

welt.de

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Jan 27, 16:11

Elbe Deepening: \$232 Million Cost Raises Concerns

A new study reveals that the 2023 cost of the Elbe River deepening was \$232 million, far exceeding the 2010 cost of \$100 million, benefiting few ships and raising concerns from environmental groups about economic viability and the need for port cooperation.

Elbe Deepening: \$232 Million Cost Raises Concerns

A new study reveals that the 2023 cost of the Elbe River deepening was \$232 million, far exceeding the 2010 cost of \$100 million, benefiting few ships and raising concerns from environmental groups about economic viability and the need for port cooperation.

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Climate Action

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What are the economic implications of the Elbe River deepening project, considering its cost and the limited number of ships that benefit from it?

The recent Elbe River deepening cost \$232 million in 2023, significantly more than the \$100 million spent in 2010. This increase is due to more sediment entering the river after the deepening, benefiting only 16 incoming and 65 outgoing large container ships. Environmental groups argue this shows a disproportionate cost-benefit ratio, highlighting the project's questionable economic viability.

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