Stepping stones to growth - our findings

Stepping stones for growth explores what’s needed from government, alongside business, educators, the third sector and the public to support the recovery.

Our video tells the story of the stepping stones to growth

 

Transcript

Growth is returning to our economy, but it’s not evenly spread.

Confidence is on the rise, but the stepping stones that lead to growth require a different way of thinking.

Growth isn't just about GDP. Good growth is about what really can make a difference to people's living standards and quality of life, including things like jobs, income and health.

Public leaders, employers, educators, the third sector and the general public need to create a shared vision and work together to deliver good growth for their local communities.

Taking a targeted, more competitive approach to administering public funding has the potential to sustain economic growth, deliver value for money and make a little go a long way.

Re-fuelling the labour market is vital, and listening to employers, enabling them to drive the skills agenda, will ensure they get the right employees with skills they really need.

These are the stepping stones to growth - to rebuild our economy and ensure future prosperity for all.

Chapter one defines economic success through the eyes of the public. We know from our Good Growth research with Demos that the public wants growth to be about more than GDP. Jobs, income and health are a particular priority – all of which are fundamental to rising living standards. The challenge for public and private leaders is to develop and tell the stories of a place, a nation of which residents can be proud and that attracts businesses and the confidence of investors.

Chapter two examines how local leaders can create a common platform for growth in the places where people live and work - in collaboration with employers, educators, not-for-profits and the public.

Chapter three explores the implementation of a recently announced initiative in England to help build this platform – the Single Local Growth Fund. We outline key points for central government on the design of the Fund and discuss how Local Enterprise Partnerships can make the most of the opportunities the Fund presents.

Chapter four sets out a vision for a business-led skills system, which better matches people to job opportunities, ultimately creating more good jobs.

"While public bodies will need to continue to make efficiencies, what business and the squeezed consumer need is the prospect of a better future. The challenge is to develop and tell the stories of a place of which residents can be proud."

"The future public sector body must widen its horizons and focus not only on how it delivers its own services but also how it can help drive external growth."

"With public funding in short supply, competition for funds is here to stay. It is imperative that funds available are put to the best use, maximising the returns to taxpayers and adding value..."

"Skills are important not only for the individual but at the economy-wide level - in terms of raising the productivity of individuals and firms and improving the UK’s relative competitiveness and its growth rate."

1 2 3 4