Prosperity and Justice

The Final Report of the IPPR Commission on Economic Justice The UK economy is broken. It no longer provides rising living standards for the majority. Young people face an increasingly insecure future. The gap between rich and poor areas is widening. Meanwhile the rise of giant digital companies, the advance of automation, and catastrophic environmental degradation challenge the very foundations of our economic model. This important book analyses these profound challenges and sets out a bold vision for change. The report of a group of leading figures from across British society, it explains how the deep weaknesses of the UK economy reflect profound imbalances of economic power. Its radical policy agenda for the 2020s includes new missions to drive productivity and innovation, an overhaul of our financial system, and reforms to improve wages, job quality and the redistribution of wealth. Ten years after the financial crisis, as the UK confronts the challenge of Brexit, this is an urgent and compelling account of the reforms needed to build a new economy of prosperity, justice and environmental sustainability. It will set the terms of political and economic debate for years to come.

Preface The IPPR Commission on Economic Justice Note and Acknowledgements Introduction and overview Part I: Building the new economy Chapter 1: The economy today Chapter 2: Prosperity and justice: a new vision for the economy Chapter 3: Reshaping the economy Chapter 4: Partnership and power Chapter 5: Time for change Part II: Our 10-part plan Chapter 6: Reshaping the economy through industrial strategy Chapter 7: Securing good pay, good jobs and good lives Chapter 8: Turning business towards long-term success Chapter 9: Promoting open markets in the new economy Chapter 10: Raising public investment in a reformed macroeconomic framework Chapter 11: Strengthening the financial system Chapter 12: Spreading wealth and ownership across the economy Chapter 13: Designing simpler and fairer taxes Chapter 14: Ensuring environmental sustainability Chapter 15: Creating a new economic constitution Endnotes