LSE Growth Commission

I have barely scratched the surface of the LSE report but it offers plenty of ideas for turning over a new leaf. And it is more coherent and comprehensive than anything the government has yet come up with.

CEP's Growth Programme examines the role of new technologies, management practices, investment, R&D, skills, competition and regulation of labour and product markets in shaping innovation and productivity. There is a strong focus on linking empirical findings to practical policy and economic theory and this led us to establish the LSE Growth Commission which reported in early 2013 on how to formulate and implement a long-term growth strategy in the UK. The Report brings together a range of perspectives from academia, policymaking, business and nine Commissioners, public evidence sessions and a full time research secretariat providing background evidence and analysis. The Commission's second Report UK Growth - a new chapter published in February 2017 and launched by Vince Cable, George Osborne, Stephanie Flanders and Alastair Darling, addressed new questions facing the UK following the result of the June 2016 Referendum. Four key areas were identified as priorities:

Jobs and skills:

In a world of rapidly changing technologies and labour markets, it is essential to develop systems of lifelong learning to promote greater security and adaptability for workers.

Industrial strategy:

The UK needs an industrial strategy. The government is right to focus here - but there are gaps between this vital area and monetary, fiscal and competition policy.

Openness:

Britain's strength is in services, and two-thirds of the country's trade is with the US and EU. Negotiations must focus here: a trade deal with the US is needed, as is a new EU trade agreement with a "services passport" at its core.

Finance and growth:

The UK is a world-leading financial centre - yet despite its strength there is a shortage of competition.

Watch our introductory video about the LSE Growth Commission: