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Are older workers the answer to boosting economic growth?

by on June 25, 2015

Accountany firm PwC have produced a report that suggests that older workers could be the key to delivering economic growth, as reported here in The Telegraph.  Jon Andrews, of PwC, is quoted as saying: “Our research shows there could be big gains for the UK economy from policies directed at keeping people skilled and motivated to stay in the workforce for longer.” The argument is that by increasing the numbers of older people in employment the Government could “boost tax revenues and reduce benefit payments significantly”.

Intruigingly, PwC have what’s referred to as a ‘Golden Age Index‘. I’ve not heard of this before. It apparently reflects the importance of older workers to the economy across a range of different countries. Britain is 19th in the 34 nation OECD group.

Of course, there is a counter narrative that we often report here in this blog, namely tales of ageism and age discrimination as well as the more general obstacles to older people continuing to work. It suggests much more is needed than simple exhortations to encourage employers and older workers to make this happen.

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