ARU expert shapes proposals for economic growth
British Academy’s new publication sets out policies for long-term prosperity in UK
Professor Aled Jones, Director of ARU’s Global Sustainability Institute
Professor Aled Jones of Anglia Ruskin University (ARU) has played a key role in a publication that sets out bold recommendations to help boost the UK economy.
The British Academy’s Economic Strategy Programme aims to unlock long-term economic growth and prosperity in the UK and the newly-published policy insights released by the Programme are the result of collaboration between British Academy Fellows, leading academics and economic policymakers.
The project, which began in 2023, has focused on four critical policy areas: International Trade and Geopolitics; Research & Development (R&D) and Innovation; Skills; and Sustainability and Social Value.
Professor Jones, Director of ARU’s Global Sustainability Institute, was invited to join the Sustainability and Social Value Working Group, which has concentrated on improving social outcomes through investment in the UK economy.
An overarching theme across the four policy areas is that a sustainable economic strategy should be underpinned by investment in the institutional, human and physical capital that in turn makes a place ‘investible’ for the private sector.
Among the recommendations of the Sustainability and Social Value Working Group are the need to consider aspects of people’s lives beyond paid work – as these are fundamental to citizens’ wellbeing and a prosperous, well-functioning society – and the importance of incorporating social investment into a whole-systems approach to the economy, highlighting the interconnected nature of the challenges faced.
The policy insight sets out how investment in health, education, wellbeing and social cohesion can provide a foundation to improve economic performance, while also strengthening societal resilience and capacity for change. The experts believe these investments can deliver economic gains through improved productivity in the long run.
“It is great to see the final report being published, highlighting the importance of social investment in health, education, social security and social cohesion to underpin economic resilience.
“Without recognising that good work and social infrastructure is interwoven with solutions to climate change and environmental degradation, the government will not be able to unlock a transformation of the UK economy that delivers prosperity for all.
“A true systems approach, that measures and values what people care about, and care for, can deliver tangible outcomes for communities right across the UK.”
Professor Aled Jones, Director of ARU’s Global Sustainability InstituteThe importance of social investment for UK economic strategy is available at https://www.thebritishacademy.ac.uk/documents/5761/The_importance_of_social_investment_for_UK_economic_strategy.pdf