While I continue my search into the economic figures by sector, I wanted to quickly post about what we need to care about the economy and businesses doing well in Dorset.
I was at a presentation when this came up on screen and it made me really think about whether people knew this and the impending impact.
You can see it on Page 9 of the following document.
Dorset Local Industrial Strategy – Draft
This is from the Dorset Local Industrial Strategy. https://www.dorsetlep.co.uk/local-industrial-strategy
By 2040 it will have a dependency ratio of 1 (that’s one person working for every person of pensionable age).
Dorset LEP Local Industrial Strategy
This is the whole section for further context.
We either do More for Same, or More for More in terms of GVA and population, we will be in a difficult position in providing social and health care to the region.
There’s less workforce coming through as people are having less babies. ONS Figures
Office of National Statistics – Births 2018
The mean age of mothers is going up as well.
With less workers, what does that mean to the high street and shops once again? Does that mean less people working in social and health care too? What will it do to local taxes and business rates?
I’m still getting my head around it to be honest.
If it’s a big fat no to immigration and people moving to Dorset from other parts of the UK, then be careful what you wish for.