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'Over-50s key to end recession' EXCLUSIVE.

Byline: Nigel Nelson

THE spending power of the over-50s could get Britain out of recession.

But George Osborne's inflexible "Plan A" finance policy has shafted them - denying the economy a pounds 25billion boost.

A report commissioned for charity Saga says that if our 21 million over-50s splashed their cash - dubbed "the grey pound" - we would be enjoying one per cent GROWTH now.

But soaring inflation and rock-bottom interest rates means they've seen savings pots SHRINK.

The figures are included in a devastating report from the Centre for Economics and Business Research for the older people's charity.

Director General Dr Ros Altman said: "Osborne could find the economic growth he has been searching for by using the power of the grey pound. But just when we needed older people's spending power we slashed their incomes."
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Publication:The People (London, England)
Date:Sep 9, 2012
Words:134
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