The British economy does not produce the widened prosperity or opportunity we need.
Productivity is wildly unequal and uneven in its distribution – cutting off communities outside of London from access to high quality jobs and to real social mobility; investment is low and too short-term – the UK invests a smaller percentage of its GDP in R&D than our competitors, holding us back in innovation and global trade; infrastructure is poorly planned and under-delivered – incurring a stasis for regions and communities that leaves them unable to attract new investment or promote job creation; and too much is owned by too few, stifling competition, creativity and diversity in our markets.
We live in a divided nation. The effects of inequality impact on every part of our lives, and disadvantage is geographically and intergenerationally entrenched.
The poorest children are half as likely to achieve basic literacy and numeracy skills by age 11, three times more likely to be obese, and will die on average nine years earlier than children from wealthier backgrounds. A baby girl born in Manchester can expect to live for 15 fewer years in good health than a baby girl born in the London Borough of Richmond.
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