Speaking to a group of retired people in his constituency in July, Roger Godsiff paid tribute to the contribution that over-50s were making to the UK economy.
In particular he praised the over-50s, the “baby boomer generation”, for the contribution they have made since the financial crises took hold in 2007, and the fact that the spending power of the over-50s now accounts for almost half of UK household income and expenditure. Without this the UK economy would most certainly be sliding back into recession.
Roger said: “While the over-50s have, like everybody else, been hit by the financial crisis, their role in the economy is growing. They accounted for almost half of all UK household income and expenditure in 2012.
“Without the “silver pound” spending power of the over-50s, which accounts for over half of UK household expenditure on food, health and recreation and culture, the economy would most definitely be back in recession. We should recognise the massive contribution that this group are making towards keeping the economy afloat during this extremely difficult time.”

This article appeared in the August edition of Roger's newsletter 'Postcard from Parliament'