This report from the Resolution Foundation makes the case for building a new economy to tackle stagnation. UK has great strengths, but is a decade and a half into a period of stagnation. The toxic combination of slow growth and high inequality was straining the living standards of low- and middle-income Britain well before the cost of living crisis struck. It is time to embark on a new
path.
This is the Final Report of The Economy 2030 Inquiry, sets out what such a path – a serious attempt to end Britain’s relative decline – looks like. It navigates, rather than ignores, the constraints and trade-offs involved, and is hard-headed about what it takes to drive growth and ensure fairness. It argues that prosperity must be built on an understanding of Britain’s strengths, and a resolve to invest in our future rather than live off our past.
Good jobs must become a central objective – not a by-product – of our economic strategy, while our tax and benefit systems must fairly share reward and sacrifice. Economic change must be steered towards securing a higher growth and lower inequality Britain, as we wrestle with major shifts from Brexit to the net zero transition.