At a seminar on “Is business ready for an ageing nation – economic opportunities for an ageing population” led by Department for Business, Innovation & Skills (BIS), Business Minister Pat McFadden said that older people bring skills and experience to the workplace that can be an asset to business and their spending power can boost the wider economy. "We should be recognising this and looking for ways to meet their needs, and to make the most of what older workers can offer."
The overall objective of the seminar was for attendees to come up with recommendations for future action by government and business in this area and to start developing a coherent agenda for future work. George Magnus, Senior Economic Adviser at UBS, commented; “The UK needs to re-boot its ideas about how it adapts to ageing. No one is suggesting people should be compelled to work in their 70s but many do want to do just that and this could have many advantages, not least in their own financial and psychological well-being."
Sources: The Age and Employment Network News Archive (February 4, 2010); Department for Business Innovation & Skills News Release (February 3, 2010)