A special panel established by the Government to look into the ageing population -- 55 years old and up -- in relation to the economy has reported that the seniors present opportunities that the government has yet to tap.

Reacting to the report, Federal Treasurer Wayne Swan says older workers would have more employment opportunities if the Government would create programs to encourage businesses to hire them, ABC News reported.

Mr. Swan made the remark after the third and final report by the Advisory Panel on the Economic Potential of Senior Australians titled 'Turning Grey into Gold' recommended that governments do more to address age discrimination in the workplace.

The panel's report listed 36 recommendations to increase the number of people aged over 55 in the workplace, including more flexible work arrangements and more investment in skills and education.

"We need to do a lot more work with the business community, highlighting the availability of government support for workers in some circumstances, but more importantly, working with the business community to recruit many of those greying Australians who are looking for a job but have had difficulty getting one," Mr Swan told ABC, saying increasing the number of senior workers would do well for the economy.