A MANIFESTO FOR GROWTH: LSE Commission calls for a new focus on investment for future prosperity – in skills, infrastructure and innovation
Skills, infrastructure and innovation are the essential drivers of the productivity growth on which the UK’s future prosperity depends. So while there are understandable concerns about the currently flat-lining economy, it is even more important to focus on vital long-term investments in these three areas. That requires stable and well-informed policy frameworks anchored in a broad political consensus on a new vision for growth.
These are among the conclusions of the London School of Economics (LSE) Growth Commission, which publishes its final report today. Investing in Prosperity: Skills, Infrastructure and Innovation is based on evidence taken in a series of public sessions from leading researchers, business people, policy-makers and UK citizens.
The LSE Growth Commissioners are Philippe Aghion, Tim Besley, John Browne, Francesco Caselli, Richard Lambert, Rachel Lomax, Chris Pissarides, Nick Stern and John Van Reenen.
The UK has major strengths, which, from 1980 onwards, helped to reverse a century-long relative decline. But the Commissioners note that a failure to invest – notably in skills, infrastructure and innovation – has long been a drag on the UK's ability to achieve sustainable growth. They propose an integrated set of solutions:
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