All this is not remotely surprising. Theory and evidence suggest that the old are an especially powerful interest group in electoral terms. Their specific interests, as far as government policy is concerned, are relatively focused - on issues such as pensions, long-term care and health. Younger people tend to have a much wider range of interests when choosing how to vote, such as tax levels, education, regulation and all the factors that affect property prices. When a large voter group has coherent interests, it is much more effective at getting its own way. Indeed, to have considerable power, such a group does not necessarily have to be in a majority - being in a significant minority is quite sufficient. But the numerical strength and influence of grey voters are growing.

The proportion of UK voters over 55 has already reached 35 per cent - and projections suggest that this will rise steadily to over 50 per cent in 2050. More alarming still is the tendency of the young not to vote. About 75 per cent of the over-65s cast a ballot, yet fewer than half that proportion vote among the under-24s. This trend can be seen across most developed democracies.

If allowance is made for age-related differences in turnout, the proportion of active voters over 55 will be 50 per cent within 15 years and nearly 60 per cent by 2050. Although it might be thought that immigration will get us out of this hole, it will not, because migrants have a tendency not to vote. Indeed, as we have seen in a number of countries, including the Netherlands, large-scale immigration brings about its own electoral pressures that may lead to its limitation.

Based on the same population projections, the average age of voters will rise from 46 to 53 over the next 30 years. After allowing for the increased tendency of the elderly to vote, voters' average age will rise to 58. As the electorate ages, more voters will benefit from an increase in state pensions and other benefits yet only have to make a few years of the requisite higher NI contributions and taxes necessary to finance the increases.