Ireland & China. Facing A Similar Issue.

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China is now allowing couples to have three children, state media reports. The government there has updated its family policies due to an incoming crises. Namely, that the state faces far too many old people in contrast to the lack number of young people it has or will future have.
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Looking after our more aged population in state pension, state services for all ages – including transport, council, emergency services and medical care, etc, obviously comes at a price. A good part of this price is deducted from younger population numbers through tax/levy/charge systems daily used.
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What happens if that younger section of a population declines? A major government stream of revenue collection declines. Basic economics.
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Then we have Ireland…
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1. An increasing number of our younger population are finding it hard to afford the already established rent prices around the country. They’re having to rent because they are already priced out of buying a home.
2. Due to their just about getting by (some not) in rent payments, there is little or nothing left for a decent life as a single, couple or married situation.
3. The thoughts or capability of having children therefore for many, has become a luxury – not just in immediate cost but also even if they could afford higher rents, they would be paying even more if they were even lucky to be able to find a larger rental property at a decent price.
4. CSO stat numbers already available, show that people who can afford to have children, are also largely doing to at a later age – so in turn, there are less children also per family.
5. As many teens (15 to 19 in particular) currently become more aware of the current housing crises and the subsequent knock-on effects of that (in short: little or no life beyond work), many are increasingly looking towards other countries as places to move to and then live. This in turn will further help bring about a lower younger population – just like China is facing…
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There are many aspects to take into consideration if the population and state coffers situation is to be better resolved in Ireland. However, one of these considerations again, has to be addressing our housing crises far better and faster.
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If we don’t… More accurately, if our elected don’t, the persuasion factors that convince many people to move away from Ireland, will have a further brain drain and economic disastrous effect on Ireland once again.
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Solving our housing crises is not just about housing, as mega important as that is, it’s also about ensuring our further overall economic stability. Now and into the future. Theirs and yours.