A coalition of some of the UK's biggest businesses with a collective turnover in excess of £280bn today backed a new macro-economic roadmap for Britain by launching a new campaign called "An Economy That Works" based on the findings of a major report.
Campaign founders the Aldersgate Group and its progressive alliance of NGOs and UK businesses argue in their first report that the UK economy risks becoming detached from the long-term needs of society. It says that GDP growth is an important tool in creating prosperous societies, but warns that on its own growth is unable to define a path to lasting prosperity and competitiveness. It says an economy that works for the UK is one that will be low carbon, will deliver high employment and equality of opportunity, and place wellbeing and regard for natural resources at its core.
Launching the new campaign, Sir Richard Lambert, former Financial Times editor and former Director-General of the CBI said: "Single-issue policymaking is struggling to address the complex social and environmental challenges of our time. The Economy that Works coalition has a relentlessly positive vision and its systemic blueprint for creating decent jobs, delivering equal opportunity, and enhancing wellbeing across the UK is exciting and galvanising."
Peter Young, Chair of the Aldersgate Group said: "Despite encouraging UK growth figures, we risk getting stuck with reduced wellbeing, rising inequality, continued loss of natural capital and rising resource pressures. Policymakers urgently need to look beyond GDP to define successful growth – setting far more coherent policy goals which strengthen the links between our economy, our society and the environment.”
Learn more about the campaign at AnEconomyThatWorks.org.
See our coverage in businessGreen.
See Sir Ian Cheshire's op-ed on our campaign in the Independent.