Prosperity and justice after the pandemic
Article
Covid-19 has exacerbated many of the existing challenges facing the UK economy - but it has also created an opportunity to ‘build back better’.
‘Building back better’ after the pandemic must mean creating an economy that delivers both prosperity and justice for all citizens. A new consensus on economic policy is beginning to emerge with the government embracing unprecedented stimulus measures during the crisis, but to really ‘build back better’ we will have to do much more than increase investment: we need to challenge damaging concentrations of power.
IPPR’s Centre for Economic Justice has identified four key power shifts that we believe policy makers should address.
- Power needs to be shifted to employees and workers, from employers and shareholders.
- Power needs to be shifted to companies that work in the interest of society from those that extract from society.
- Power needs to shift to those who are locked out of wealth from a system that has locked up wealth.
- Power needs to be shifted to the nations, regions, and towns of the UK from Whitehall.
Related items
Realism and progress: How should the UK think about international policy in 2024?
Given the current polls, the Labour party looks set to form the next government. It has taken the temperature of the country and, whereas in 1997 its leaders put hope at the heart of their campaign, this time they have chosen to focus on…Rock bottom: Low investment in the UK economy
The UK’s investment performance is still worse than every other G7 country, new data shows.There is an alternative to traditional ways of delivering social and economic value
Our new report An alternative is possible: Measuring the impact of cooperatives puts forward a new framework for measuring the value that cooperative organisations deliver to local economies.