The new chief minister is to set up a study group to examine how the Manx economy will be able to support the Isle of Man's growing elderly population.
In one of his first moves since taking the top job, Allan Bell has flagged up the challenges posed by an ageing society, from a growing bill for state pensions to a surge in demand for health services, nursing and residential care.
He says he plans action shortly, to evaluate the size of the problem (first part of audio file):
Mr Bell says the pensions liability in itself illustrates the vital need to expand the local economy (second part of audio file):
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