INCLUSIVE GROWTH: FROM ANALYSIS TO ACTION

by: Amelia Watts, Communications Manager, Blueprint for Better Business | on: 23.05.18 | in: Business ethics, Inclusive Growth
tags: , , ,

How can policymakers work with businesses to support inclusive growth? Amelia Watts from Blueprint for Better Business considers this question in the first of a new series of blogs exploring the different perspectives shared at the recent OECD conference hosted in Parliament by the APPG.

INCLUSIVE GROWTH: FROM ANALYSIS TO ACTION

by: Amelia Watts, Communications Manager, Blueprint for Better Business | on: 23.05.18 | in: Business ethics, Inclusive Growth tags: , , ,
How can policymakers work with businesses to support inclusive growth? Amelia Watts from Blueprint for Better Business considers this question in the first of a new series of blogs exploring the different perspectives shared at the recent OECD conference hosted in Parliament by the APPG.

Last month we were honoured to be invited to join the All Parliamentary Party Group (APPG) on Inclusive Growth at the OECD Global Parliamentary Network meeting in Parliament which was held to discuss inclusive growth. The organisers invited a number of business leaders associated with Blueprint, including Sir Mike Rake, Chair of Advisory Council; Sue Garrard, Blueprint Trustee and Executive Vice President, Sustainable Business & Communications, Unilever; and Sacha Romanovitch, Chief Executive, Grant Thornton to join the conversation. Over the next few weeks, we will be sharing the perspectives shared by attendees from Parliamentarians, to NGOs and business leaders.

Liam Byrne, UK MP and Co-chair of the APPG Inclusive Growth, set the tone for the discussion in his welcoming address. He explored the very different challenges and opportunities 21st-century economies face including technological transformation, rapidly growing inequality and systemic challenges such as climate change. He underlined that current policy was not created to address this, built as it is on an economic consensus which took slowly hold in the 20 years between Milton Friedman’s Capitalism and Freedom and the election of Ronald Reagan and Margaret Thatcher in ’79/80. In conclusion, he suggested that while we may have mastered how to globalise, we failed to develop good ways of ensuring that globalisation worked for the many, not just the few.

Byrne challenged the attending parliamentarians, NGO’s and business representatives that while growth has returned since the global financial crisis, there is still much to be done to ensure it is inclusive. As demonstrated in the Sustainable Development Goals, there is agreement across governments and in many businesses that inclusive growth is good for society and business, opening up new markets and opportunities and ensuring economic stability. To deliver this means working together across parties, business, finance, unions, churches and civil society. Central to this is the role of business in promoting inclusive growth, which can be achieved by businesses operating to a purpose that benefits both business and society.

So what can policy makers do to raise productivity levels, while also re-connecting productivity growth to wages? How can businesses ensure their practices achieve inclusive social outcomes? What does the purpose-led business of the 21st century look like?

Byrne made the case that a new policy strategy is needed if the markets are to play their part in maximising social good. Central to this are three key steps, firstly a ‘good jobs’ revolution, that recognises, on the supply side of the economy, it is no longer merely the supply of capital that is important, but the supply of innovation. Second, on the demand side, we must keep new rates of growth rates on track, and crucially keep trade on track, and investment in the sort of infrastructure that makes trade possible. Thirdly, we have to renew the power of states to redistribute in order to help both young and old and address the scandal of gender inequality.

Over the next few weeks, we will be sharing summaries of the different perspectives demonstrated by speakers including Greg Medcraft, Dr Hari Mann, Sir Mike Rake, Sue Garrard and Sacha Ramonovitch. In doing so, we will aim to begin addressing some of these big questions, and we hope to create an ongoing discussion around the topic of inclusive growth.

Further reading:

Related Content

Blog: EXPERT HUB – BRIEFING: SOCIAL SECURITY INVESTMENT

𝐁𝐲 𝐃𝐚𝐢𝐬𝐲 𝐒𝐚𝐧𝐝𝐬, 𝐇𝐞𝐚𝐝 𝐨𝐟 𝐂𝐚𝐦𝐩𝐚𝐢𝐠𝐧𝐬 𝐚𝐧𝐝 𝐏𝐮𝐛𝐥𝐢𝐜 𝐀𝐟𝐟𝐚𝐢𝐫𝐬, 𝐉𝐨𝐬𝐞𝐩𝐡 𝐑𝐨𝐮𝐧𝐝𝐭𝐫𝐞𝐞 𝐅𝐨𝐮𝐧𝐝𝐚𝐭𝐢𝐨𝐧

Read more

Blog: TOWARDS THE MANIFESTOS: Business perspectives on poverty and

𝐍𝐨𝐭𝐞𝐬 𝐟𝐫𝐨𝐦 𝐚 𝐩𝐫𝐢𝐯𝐚𝐭𝐞 𝐯𝐢𝐫𝐭𝐮𝐚𝐥 𝐫𝐨𝐮𝐧𝐝𝐭𝐚𝐛𝐥𝐞 𝐨𝐧 𝐓𝐮𝐞𝐬𝐝𝐚𝐲 𝟏𝟕 𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝟐𝟎𝟐𝟑 𝐚𝐭𝐭𝐞𝐧𝐝𝐞𝐝 𝐛𝐲 𝐚 𝐠𝐫𝐨𝐮𝐩 𝐨𝐟 𝐔𝐊 𝐩𝐚𝐫𝐥𝐢𝐚𝐦𝐞𝐧𝐭𝐚𝐫𝐢𝐚𝐧𝐬 𝐚𝐧𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐫𝐞𝐩𝐫𝐞𝐬𝐞𝐧𝐭𝐚𝐭𝐢𝐯𝐞𝐬

Read more

Blog: EXPERT HUB – RESEARCH: VOTER ATTITUDE INSIGHTS

𝐁𝐲 𝐋𝐮𝐜𝐲 𝐁𝐚𝐧𝐧𝐢𝐬𝐭𝐞𝐫, 𝐂𝐚𝐦𝐩𝐚𝐢𝐠𝐧𝐬 𝐚𝐧𝐝 𝐏𝐮𝐛𝐥𝐢𝐜 𝐀𝐟𝐟𝐚𝐢𝐫𝐬 𝐌𝐚𝐧𝐚𝐠𝐞𝐫, 𝐉𝐨𝐬𝐞𝐩𝐡 𝐑𝐨𝐮𝐧𝐝𝐭𝐫𝐞𝐞 𝐅𝐨𝐮𝐧𝐝𝐚𝐭𝐢𝐨𝐧

Read more

Blog: EXPERT HUB – OP ED: Essentials Guarantee

𝐁𝐲 𝐇𝐞𝐥𝐞𝐧 𝐁𝐚𝐫𝐧𝐚𝐫𝐝, 𝐃𝐢𝐫𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝐏𝐨𝐥𝐢𝐜𝐲, 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐚𝐧𝐝 𝐈𝐦𝐩𝐚𝐜𝐭, 𝐓𝐡𝐞 𝐓𝐫𝐮𝐬𝐬𝐞𝐥𝐥 𝐓𝐫𝐮𝐬𝐭

Read more

Blog: ABOUT THE EXPERT HUB

𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐞 𝐄𝐱𝐩𝐞𝐫𝐭 𝐇𝐮𝐛 𝐚𝐧𝐝 𝐰𝐡𝐚𝐭 𝐲𝐨𝐮 𝐜𝐚𝐧 𝐞𝐱𝐩𝐞𝐜𝐭 𝐭𝐨 𝐬𝐞𝐞 𝐡𝐞𝐫𝐞

Read more

Blog: TOWARDS THE MANIFESTOS – 2023 CONFERENCE SYNOPSIS REPORT

𝐓𝐨𝐰𝐚𝐫𝐝𝐬 𝐭𝐡𝐞 𝐦𝐚𝐧𝐢𝐟𝐞𝐬𝐭𝐨𝐬: 𝐰𝐡𝐚𝐭’𝐬 𝐭𝐡𝐞 𝐚𝐠𝐞𝐧𝐝𝐚 𝐟𝐨𝐫 𝐟𝐢𝐱𝐢𝐧𝐠 𝐩𝐨𝐯𝐞𝐫𝐭𝐲 𝐚𝐧𝐝 𝐭𝐚𝐜𝐤𝐥𝐢𝐧𝐠 𝐢𝐧𝐞𝐪𝐮𝐚𝐥𝐢𝐭𝐢𝐞𝐬? 𝐂𝐨𝐧𝐟𝐞𝐫𝐞𝐧𝐜𝐞, 𝐉𝐮𝐥𝐲 𝟐𝟎𝟐𝟑

Read more

Blog: Power to Change Capitalism for Good: The IPPR’s Economic J

Thank you Mr Speaker It is a pleasure to serve under your chairmanship. I beg to move the motion in my name and I hope you will forgive me the beginning with a short hymn of praise to the Archbishop of Canterbury. It was at his behest that I and others founded the All-Party Parliamentary […]

Read more

Blog: Rolling back the state will never deliver equality

How do we mend capitalism and end populism? The populism that is fuelled by surging inequality around the world? After two years of hard graft, the IPPR has answers. Today, its commission on economic justice, whose members include the Archbishop of Canterbury, has produced its final report. It [...]

Read more

Blog: Inclusive Growth means thinking about low-pay sectors

Economic development tends to focus on the glamorous parts of the economy. Many cities, for example, are trying to attract Channel 4. In the US, they are bidding for the (second) Headquarters of Amazon. This focus is understandable, as sectors such as high-tech or media tend to produce some [...]

Read more

Blog: Reflections on the ‘Purpose of Finance’ from Positive Mo

Positive Money is delighted to see a Parliamentary think tank addressing long-standing problems with our monetary and financial system. David Pitt-Watson and Hari Mann’s effort to kick-start a debate on the purpose of finance is an important contribution to the struggle to improve the sector [...]

Read more

Blog: THE ROLE OF BUSINESS IN PROMOTING INCLUSIVE GROWTH

‘There is strong evidence that the current level of inequality is unsustainable from a political, social and economic perspective. We have changed the inclusive growth narrative, but now action must follow.’ Gabriela Ramos, OECD Chief of Staff and Sherpa to the G20, speaking to the OECD Global [...]

Read more

Blog: HOW CAN THE FINANCIAL SERVICES INDUSTRY WORK WITH POLICYMAKE

‘At a time when technology is rewriting international financial services, we need to ask how policy is best placed to manage this process and ensure it reduces inequality and creates inclusive growth’ Greg Medcraft, Director of the OECD Directorate for Financial and Enterprise [...]

Read more

Blog: Our research shows that a Citizen’s Basic Income would red

  A recent news item from the All Party Parliamentary Group tells us that new research from the House of Commons library suggests that, if nothing changes, the top 1% of the world’s population could own two-thirds of the planet’s wealth by 2030 if inequality grows at the same rate as it [...]

Read more

Blog: New figures suggest top 1% could own two-thirds of global we

New figures suggest top 1% could own two-thirds of global wealth by 2030 Research suggests British people worried by growing political power of global super-rich The top 1% of the world’s population could own two-thirds of the planet’s wealth by 2030 if inequality grows at the same [...]

Read more

Blog: Time to Rewrite the Rules: Remarks to the OECD Global Parlia...

[embeddoc url=”https://www.inclusivegrowth.co.uk/wp-content/uploads/2018/04/Rewrite-The-Rules-Remarks-to-OECD-Inclusive-Growth-Conference-v2.0-KIND2c-Harry.pdf” download=”all”] House of Commons Library Research Research suggests British people worried by growing [...]

Read more

Event: OECD Global Parliamentary Network Meeting on Inclusive Growt

We are pleased to be hosting the Meeting of the OECD Global Parliamentary Network “on the road” in London on 4-5 April 2018. The meeting will be organised jointly by the OECD and the All-Party Parliamentary Group on Inclusive Growth and will be held here at Westminster. This event, which is [...]

Read more

Blog: Inclusive Job Growth: Companies, Sectors and Places

The Good Economy co-founder, Mark Hepworth, shares new ratings of regions and sectors to see where inclusive growth is needed most.

Read more

Leave a Reply

Leave a Reply