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In a new report out today, jointly published by the Aldersgate Group and An Economy That Works Alliance, independent experts set out policy proposals to make the UK economy work for people and the environment. Each is ripe for implementation by the next Government.

This new report from the “An Economy That Works” initiative hosts contributions from leading experts on one facet of six key themes: high employment, equality of opportunity, wellbeing, low carbon development, zero waste and enhancing the UK’s natural capital. Bioregional is a member of the Aldersgate Group and the Alliance. The measures outlined in the report would help move the UK towards One Planet Living. Contributions include:

  • A proposal by Susanne Barker of the manufacturers’ association EEF to set a goal to match the OECD average on government R&D spend to boost employment in the UK;
  • A proposal by Duncan Exley of the Equality Trust to put equality of opportunity at the heart of the UK’s industrial strategies to boost the economy’s competitiveness;
  • A proposal by Christine Berry of the New Economics Foundation to put wellbeing at the heart of business models and the UK’s economic policymaking;
  • A proposal by Ben Caldecott of Oxford University’s Smith School of Enterprise and the Environment for the UK Government to introduce a scheme to retire the UK’s remaining sub-critical coal power stations by the end of 2020 to tackle carbon emissions in the UK’s power sector;
  • A proposal by Prof Paul Ekins of the UCL Institute for Sustainable Resources to introduce an environmental tax reform to boost the resource efficiency of the UK’s economy;
  • A proposal by Toby Roxburgh and Karren Ellis at WWF-UK to introduce a new programme to “stress test” the risks to the UK economy caused by the depletion of the UK’s natural resources, similar to the stress testing approach used in the UK’s banking system;
  • A proposal by Oliver Dudok van Heel of the Economy That Works Alliance to define clear headline indicators that will enable us to measure the UK’s progress towards an economy that works.

Peter Young, Chair of the Aldersgate Group, said: “This new report brings exciting new policy ideas from authoritative experts to deliver key benefits for our future economy, environment and society. If the UK economy is to prosper in the long run, the next Government needs to adopt synergistic policies like these to strengthen environmental and social drivers at the heart of a sound economic plan.” Oliver Dudok van Heel, Executive Director of An Economy That Works Alliance, said: “This report sets the tone for the next stage of the development of the Economy That Works Alliance, by turning our vision into concrete policy proposals that will enable the transition to an economy that delivers prosperity, competitiveness and sustainability to the UK: an economy that works. “In keeping with the collaborative nature of the initiative, each proposal was developed by a different expert in the field, building on their own work and the expertise of their organisation, in full alignment with the overarching aims of An Economy That Works.” Notes

  1. An Economy That Works (aneconomythatworks.org) is an alliance of organisations from across the economy whose fundamental belief is that a healthy economy is only possible if it addresses key social and environmental challenges. The campaign’s first report, “An Economy That Works”, shows why the UK economy will benefit and identifies six key characteristics of a sustainable economy that should be measured and become central to government policy making. The report also identifies four key enablers that are critical to ensuring a smooth transition to an economy that works.

 

  1. The Aldersgate Group is an alliance of leaders from business, politics and civil society that drives action for a sustainable economy. Its members include some of the largest businesses in the UK with a collective global turnover of over £300bn, leading NGOs, professional institutes, public sector bodies, trade bodies and politicians from across the political spectrum. We are politically impartial and champion the important role of the business sector in moving the UK towards a sustainable economy.