Tax hikes and spending cuts for Britain's ageing population

PA/AOL Money
senior businessman with computer over white
senior businessman with computer over white

%VIRTUAL-SkimlinksPromo%A fresh wave of tax hikes or spending cuts will be needed to meet the growing cost of Britain's ageing population, the financial watchdog has warned.

The next generation of workers also face having to stay in employment until they reach 70 to help keep the country's finances on the right track, according to the Office for Budget Responsibility (OBR).