Ending Stagnation: A New Economic Strategy for Britain

The final report of The Economy 2030 Inquiry The UK has great strengths, but is a decade and a half into a period of stagnation. The toxic combination of slow growth and high inequality was straining the living standards of low- and middle-income Britain well before the cost of living crisis struck. It is time to embark on a new path. This, the Final Report of The Economy 2030 Inquiry, sets out what such a path – a serious attempt to end Britain’s relative decline – looks like. It navigates, rather than ignores, the constraints and trade-offs involved, and is hard-headed about what it takes to drive growth and ensure fairness. Prosperity must be built on an understanding of Britain’s strengths, and a resolve to invest in our future rather than live off our past. Good jobs must become a central objective – not a by-product – of our economic strategy, while our tax and benefit systems must fairly share reward and sacrifice. Economic change must be steered towards securing a higher growth and lower inequality Britain, as we wrestle with major shifts from Brexit to the net zero transition. The Economy 2030 Inquiry is a collaboration between the Resolution Foundation and the Centre for Economic Performance at the London School of Economics, funded by the Nuffield Foundation. This Final Report is underpinned by the Inquiry’s rigorous analysis, drawing on 70 reports, as well as extensive conversations with citizens and policy makers across the country.