Sir Rod Stewart’s wife Penny Lancaster is backing a drive to rescue the over-50s from the jobs scrapheap – as unemployment in the age group hits a record rate.
The number of Britons aged 50 to 64 on out-of-work benefits is at an all-time high of 2.15 million, according to a leading think tank.
It is the first time the figure has exceeded 2 million, and represents an increase of 600,000 since the pandemic – leading to a bulge in employees facing a bleak and unwanted retirement.
In response, the Centre for Social Justice (CSJ) has set up a commission of experts, politicians and public figures, including broadcaster Angela Rippon and Lady Lancaster, to examine what it calls ‘a midlife crisis for the economy’.
The lost tax is estimated at £16 billion per year – more than the annual Ministry of Justice budget.
Lady Lancaster, 54, a presenter on ITV’s Loose Women, told The Mail on Sunday that while her own circumstances ‘are not typical’ – her husband has made more than £230 million from his career – she wanted to help ‘ensure midlife is seen as a time of renewed possibility instead of decline’.
Sir Rod, 81, and Lady Lancaster, pictured, have been married for 18 years.
Since Chancellor Rachel Reeves’ last Budget, which burdened companies with a £25 billion tax increase, more workers aged 50 to 64 have left company payrolls than any other age group except for those aged 25 to 34.
One focus group participant said: ‘When it comes to looking for work, it’s like walking into a horror film.’
Wellbeing brand founder Liz Earle, 62, who will chair the commission, said: ‘For too long we’ve overlooked people in midlife and older despite their experiences and their resilience… This comes at great cost to individuals, companies, and the Government.’
Penny Lancaster pictured at the London film premiere of EPiC Elvis Presley this month
A time of renewed possibility, not decline
by Penny Lancaster
I’ve met many women who feel pushed aside in midlife, when they still have so much to contribute.
There is no better time for this commission to listen to the real experiences of people facing obstacles to work and ensure midlife is seen as a time of renewed possibility instead of decline.
Whether in my campaigning, policing or television work, the women I speak to in their 40s, 50s and 60s have built careers, raised families and held communities together, yet feel quietly pushed aside just when their experience should carry the greatest weight.
I recognise that my own circumstances are not typical, and that many women face pressures I do not in my life today, that makes it all the more important to use my platform to amplify what I hear.
When the Centre for Social Justice invited me to get involved in this initiative, I said yes because I believe that this is a stage of life that cannot be written off.
We will listen to men and women in their prime who feel blocked from reaching their potential, and find the solutions that will help thousands more people in their golden years to live happy, secure and fulfilling lives.