In addition, we welcome initiatives to implement tax cuts in a number of countries, provided that these measures are consistent with the progress to be achieved in the area of fiscal consolidation. At the same time, more emphasis should be placed on structural reforms on the expenditure side of budgets leading to stricter expenditure restraint.
So more people in older age groups will be able to continue working (and will need to in order to fund longer retirements). We shouldn't be surprised, then, that this group will also see a trend increase in their participation (Graph 4).