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Centre for Policy on Ageing | |
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The economic contribution of older people
— report for Age Concern England by Pamela Meadows, Volterra Consulting | | Author(s) | Pamela Meadows |
| Corporate Author | Volterra Consulting; Age Concern England - ACE |
| Publisher | Age Concern England - ACE, 2004 |
| Pages | 88 pp (Age Concern Reports) |
| Source | Age Concern England, Astral House, 1268 London Road, London SW16 4ER. |
| Keywords | Employment of older people ; Informal care ; Voluntary work [elderly] ; Unemployment ; Economics ; Measurement. |
| Annotation | The debate on an ageing population which characterises older people as dependent is misleading, since their contribution to national well-being, whether through paid employment or unpaid work is immense. In this report, the economic value of contributions by the 50+ population is measured, finding that this amounts to £200 billion or some 24% of total national output. The report reviews the evidence about older people's contribution to their places of work, and that in some types of work older people perform better than younger people do. It also examines the value of unpaid care by the over 50s (£15 billion), childcare (around £3.9 billion), and volunteering (worth some £5 billion a year). The macroeconomic effects of the non-employment of older people are examined, by modelling their employment potential. This estimates that the gross domestic product (GDP) is £12 billion, some 1.25% lower than it might otherwise be. The beneficial consequences for both the tax base and savings, leading to higher growth and investment in the future, are highlighted, as are the potential benefits for the whole population. (RH). |
| Accession Number | CPA-040629223 B |
| Classmark | GC: P6: GHH: WH6: W: 3R |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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