... Development (OECD) countries got much younger. The baby - boomers had relatively few children and their children, today's young society, are choosing to either have children later in life or not at all. The demographic projectionists did not foresee the continuous fall in birth rates, therefore, it has hit the United Kingdom and various other countries like Japan and Germany hard. Consequently, now this situation has come to light, governments across the borders are attempting to curtail the negative impacts of our ageing population on the economy. 'For the first time in history, the old will start to outnumber the young (Penycate, 2000: 1). The baby - boomers are now in their early fifties, their prime earning years, with few children. This in contrast to the increased longevity of their parents gives the 'older person' power in numbers as people over 45 years old will consist of 40% of the working ...

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