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Given UK age demographics that is going to happen over the next few decades anyway, putting all efforts into increasing supply could lead to the opposite problem in the not too far future.

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Unlikely, all UN demographics predictions were/are wrong. Population is mostly grows everywhere unless that region a war zone. Being that growth driven by births, immigration, refugies or illegal move is irrelevant in context of supply/demand.

> Population is mostly grows everywhere unless that region a war zone.

Define everywhere. Japan and Greece have seen population declines in the last few years, for example.

It's more 'define the interval'. For Japan and Greece that's more a stagnation - population didn't grow or fell much in last 30 years. On a interval of 2-3 generation (20-60 years) most of countries show growth, not decline in population. Many times predicted population decline in Germany turns to be slow growth during last 30 years.

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