A BETTER OFF BRITAIN

IMPROVING LIVES BY MAKING GROWTH WORK FOR EVERYONE

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A better off Britain deals with the challenges of living standards and opportunity in the UK.

After the longest squeeze on incomes in the UK on record, the path to higher living standards is unclear. There are also deeper, more structural factors to address that cannot be fixed by growth alone – challenges like the level of social mobility in the UK which suggests that we are failing to make the most of talent from all backgrounds.

This report sets business’ blueprint for an economy where growth benefits all, setting out recommendations for action by business and government that will give immediate relief for the hardest pressed and set our living standards on the path to a better future.

Did you know
Did you know?
WORKERS GOVERNMENT BUSINESS

The average working couple in the UK spends 33.8% of their net income on childcare. That's more than in any other OECD country. Parents need greater support with this cost. 'UK working couples spend more on childcare than in any other OECD country' #BetteroffBritain

Moving from a level 3 skilled job (A-level or equivalent), to a level 4 skilled job (further and higher education) is worth an extra £98 per week. 'Moving up one skill level from a job needing A-levels is worth an extra £98 a week' #BetteroffBritain

1 in 3 workers are still 'stuck' on the lowest earnings group after 14 years – this suggests too many people aren't helped to achieve their potential. '1 in 3 workers are still 'stuck' on the lowest earnings group after 14 years' #BetteroffBritain

Businesses spend 72.7% of their income on employing staff, in line with the long-term average. Wages are a shrinking part of the cost of employment as taxes and the cost of pensions have risen. 'Business spends the same share on labour, but tax and pensions have squeezed wages' #BetteroffBritain

50% of jobs will require level 4 skills (higher education) or higher by 2022. We need vocational routes to these skills to ensure that businesses can access the skills they need. '1 in 2 jobs to need higher education by 2022. We need more routes to these skills' #BetteroffBritain

Productivity was 73% of UK growth 1998-2007, yet this has stalled since the recession and is 16% lower than it would have been. Restarting productivity is key to growth and wages. 'Restarting productivity is key to growth and wages' #BetteroffBritain

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