DEAR EDITOR -- Shadow Work and Pensions Secretary David Willetts' assertion that people should have more children to counter an ageing population raises some interesting issues but I am afraid he has missed the point.
The ageing population is not to be seen in any way as a negative and in many ways he was at pains to point this out.
I am glad David Willetts and the Conservative Party have understood the changing and changed demographic but the point he has missed is that economic growth in the future is going to come from the very people who traditionally had been thought over the hill - past their sell by date.
Mr Willetts recognises that in the next half century the European Union will see an extra 40 million people aged 60 or over.
As a matter of record, 14,226 people turn 50 in Britain each week!
Now that society is beginning to focus on the reality as opposed to the perceptions of life over 50 perhaps Mr Willetts will lead the campaign to get employers to understand that there is a huge amount of talent, experience, commitment and entrepreneurial vigour in the fastest growing demographic in the UK.
Currently, 30 per cent of people aged 50 and over who want to work cannot find employment.
As soon as society recognises this the quicker we can get the economy moving.
The over 50s have 30 per cent higher disposable income than the under 50s; they possess 80 per cent of private wealth; they are largely free from the burden of a mortgage (and the kids!) and they are an audience without conditioned purchasing habits.
The falling birth rate and future projections make the situation one which companies ignore at their peril.
The over 50s are the largest sector of the population, the fastest growing, the most affluent with fewest financial ties.
On top of that there is the "added value" the over 50s bring through skills and experience, improved recruitment and retention, lower rates of absenteeism and reduced overheads.
The falling birth rate is indeed a challenge but it is one we should all face up to with a positive stance and embrace the opportunities the demographic shift presents us.
Peter Tomlinson
Managing Director
SAGA 105.7fm
Hagley Road
Birmingham
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