Age UK statement in response to Chancellor's Summer Financial Statement

Caroline Abrahams, Charity Director at Age UK said:

"We welcome the package of measures to tackle youth unemployment but it is disappointing that there was no support for older workers, many of whose jobs are at risk because of the pandemic. For people approaching retirement, any reductions in income caused by job loss, reduced overtime or being furloughed are likely to be impossible to make up, depressing their finances throughout retirement.

“We already know that when someone aged 50 or over loses their job it typically takes them longer to get back in to work than younger people. It is essential that the Government puts in place specialist support to help older jobseekers get a job as quickly as possible.  Ministers should also look at what other interventions might help, for example helping employers meet some of the costs of employing older workers, making requests for flexible working a ‘day one’ right and strengthening protection against age discrimination. Without such positive action we worry that many older workers will be thrown on the scrap heap and left to spend the rest of their lives on the breadline.”