Economics Manifesto - Policyexchange

27 Feb 2015 02:31 PM

After a decade in which real wages have fallen and unemployment soared, it is no surprise that many people have lost faith in the ability of markets to deliver for them.

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In the short term, Britain faces challenges: our productivity is stagnant, our savings too low and the deficit too high.

Nevertheless the long term outlook for our economy remains bright. The combination of markets and technology is the most powerful engine we know to increase prosperity, reduce poverty and create a better world.

In Policy Exchange’s Economics Manifesto, we look at where our economy has been, where it is going – and how the Government can ensure the power of markets benefits everyone by:

Creating the most innovative and competitive economy in the world

Over the last few years, Britain’s economy has prioritised keeping people in work over increasing wages. As the economy recovers, focus will switch back to how we can ensure more rapid growth, lowering the long term cost of living.

Building a capital-owning democracy

Spreading the ownership of assets will be as important as raising wages in the long-term as Britain seeks to raise the standard of living for all.

Delivering value for money government

The remains considerable scope to increase the efficiency of government – allowing us to both pay down debt and pass on the benefits in higher incomes for the low-paid.