Rising house prices and rent prices systematically undermine the progressive vision of a society with equal opportunities for all. They also make our economy highly vulnerable to debt crises and other macroeconomic shocks. An end to house price inflation can be more quickly achieved than many people assume, through better macroprudential supervision of bank lending, tax reform, restrictions on the ownership of UK property by non-UK residents, and – crucially - a strengthening of tenants’ rights.Read More
Economic growth remains the predominant policy goal in the UK. However, the pursuit of economic growth stands at odds with environmental sustainability, and it is not needed to achieve social objectives such as full employment and improved quality of life.
A fundamentally different approach to managing the economy is required that puts people and the planet ahead of growth in GDP.Read More
A universal basic income (UBI), tax-free weekly income to every individual, provides an administratively simple method to resolve a range of social problems. A modified scheme that provided a universal and unconditional income at a moderate starting level, leaving much of the existing system intact, would be feasible, affordable and beneficial.Read More
Decades of neoliberalism leave Britain with high inequality and the worst investment and productivity performance in the developed world. Reconstructing this broken economic system requires a comprehensive policy mix based on public investment and labour market policies for equality-led growth.Read More
The Conservative Government elected in 2015 declared an objective of reducing expenditure on working age claimants by £12 billion a year – that is £12 billion from the unemployed, the chronic sick and the low-paid (and their children). The then Labour leadership decided to abstain on the issue. There could be no better example of the bankruptcy of mainstream politics in Britain.
It is doubtful whether existing policies could in fact secure such a reduction in the near future.Read More
Since 2008, the question of inequality has moved up the political agenda. This rising concern has yet to translate into policy action. The UK continues to sit towards the top of the global inequality league, while leading forecasters predict a deepening economic divide until 2020.
Citizens' wealth funds offer a positive opportunity to tackle the twin problems of rising inequality and under-investment.Read More
The UK has the longest and strongest tradition of research on the social determinants of health and health inequalities for any country, more government papers and reports, and more policy. Yet British governments have struggled to reduce inequalities in health.Read More