Ageing population could affect net debt

AS the Irish population ages, the implications for the national debt and our international credit rating could be serious, a report warned yesterday.

Prepared by international credit service Standard & Poors, the report warns that even by 2010, the move towards an ageing population could be reflected in rising government deficits and with net debt, presently one of the lowest in the EU, starting to accelerate.

In its assessment, S&P warned: “Without concerted policy and fiscal reforms, the aging Irish population will lead to intense pressure on the public finances and the ratings of the country.”