Transforming the economy after Covid–19: A clean, fair and resilient recovery

Article

We’re at a historic moment. The Covid-19 crisis could mark a turning point in the direction of the UK’s economy and its efforts to address the climate and nature crisis. The economy is in need of significant intervention to halt rising and long-term unemployment, to protect and improve the quality of life of all citizens and protect and raise the living standards of low-income households and the vulnerable.

In responding, governments are presented with a choice: use this moment to build a stronger economy that is cleaner, fairer and more resilient, or further entrench an old-fashioned economy driven by fossil-fuels and debt-laden consumption. An economy which, at present, is failing to improve the quality of life and wellbeing for the majority, and which must be consigned to the past.

In this paper, we argue for the former: for an investment-led economic recovery focused on job-creation and creating opportunity across the country, decarbonisation and restoring nature, and tackling inequality. Too often, these goals, and that of building a strong economy, are presented as being in conflict with each other. But in reality, they can and must be achieved together – and this must begin with the economic recovery packages following Covid-19.

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