An economy for the many, not the few: the focus for inclusive growth?
In recent months, there has been a global recognition that we must make growth more ‘inclusive’. In the UK, this has culminated in the RSA announcing an inclusive growth commission.
This is welcome. There is no doubt that in recent years we have neglected what we have known for decades – namely that economic growth does not guarantee poverty reduction and that inequality hampers growth. Indeed, high levels of welfare and low levels of spending power is a shaky basis to a local economy. An inclusive local economy needs the poor to not be poor.