Documents New Economics Foundation, London 14 results

"The political agreement between the Council and the European Parliament has introduced new numerical debt and deficit benchmarks, mandating annual
reductions in debt and deficits that will require unnecessary budget cuts.
Comparing the political agreement on fiscal rules to estimated social and green investment gaps shows that only three countries (Denmark, Sweden, Ireland) can afford to meet social and green investment needs under these rules. Even if the grants under the Recovery and Resilience Facility (RRF) were to continue post-2026, only five countries (Denmark, Sweden, Ireland, Croatia, and Lithuania) would be able to meet at least minimum social and green investments needs. To allow all member states to meet their social and green public investment needs, an additional €300-420bn a year (2.1-2.9% of EU GDP) annually would be needed."

"This report argues that nothing short of a Great Transition to a new economy is necessary and desirable, and also possible.
Business as usual has failed. The financial crisis has exposed deep flaws in current approaches to economics. Economic liberalisation has not delivered rapid growth on a consistent basis, but has been characterised by booms and crashes. Nor has it delivered benefits to everyone: wealth has become concentrated in the hands of the few, with very little 'trickling down' to the world's poorest people. In developed countries, income inequality has increased, giving rise a range of social problems. Life satisfaction levels in developed countries is flatlining. Worst of all, the world is rapidly over-heating: the atmosphere cannot absorb the levels of CO2 being pumped into it for much longer without triggering irreversible climate change. The majority of the planet's ecosystems are being pushed to breaking point.
We cannot afford to continue down this path. The Great Transition reveals trillions of pounds that climate change and inequality will cost the UK. But we still have a chance to make things right. If we are willing to give up pursuing economic growth for the sake of something much better, for ourselves, for society and for our planet, we can tackle climate change and create a more equal and happy society. This report sets out a range of practical measures on housing, business, taxation, property and energy policy to make the Great Transition we urgently need."

"In an age of uncertainty, society globally needs a new compass to set it on a path of real progress. The Happy Planet Index (HPI) provides that compass by measuring what truly matters to us - our well-being in terms of long, happy and meaningful lives - and what matters to the planet - our rate of resource consumption. The HPI brings them together in a unique form which captures the ecological efficiency with which we are achieving good lives.
This report presents results from the second global HPI. It shows that we are still far from achieving sustainable well-being, and puts forward a vision of what we need to do to get there."

"This short paper aims to provoke fresh thinking and debate about the policies we shall need for the future. It opens up a new programme of work at nef (the new economics foundation) that explores the connections between society, economy and the environment, and draws out their implications for social policy.
Through 60 years of peace and plenty, Britain's welfare system has proved unequal to the task of narrowing inequalities or building a cohesive society. Income and health inequalities are wider than ever; yet unjust and divided societies are ill-equipped to take concerted action. A high degree of social solidarity is needed to tackle the profound economic and environmental crises that confront us all today.
Our central premise is that policy and practice must aim for sustainable social justice. To achieve this, the welfare system must be transformed. The role of Government will remain central, but we need a new social settlement that depends less on the market economy and instead values and nurtures two other economies - the resources of people and the planet. We consider what must be done to ensure that all three economies - people, planet and markets - work together for social justice."

"Platforms – like Uber, Deliveroo, or TaskRabbit – connect services and products with consumers. With both sides theoretically having control over the interaction, and investing in the platform to reap the rewards, the rapid spread of platforms has the potential to revolutionise capitalism. But increasing concerns over the past few years around tech monopolies and the potential erosion of workers' rights through the gig economy have raised questions over who really holds control over the platforms, and what impact this has on workers and customers."

"Yesterday the Department for Work and Pensions (DWP) revealed that nearly one million people have applied for universal credit (UC) in the final two weeks of March – a 10-fold increase on the usual level of applications.
This enormous surge makes it clear that for many the coronavirus crisis is an economic emergency, as well as a health one. And just as some of us are more vulnerable to the virus than others, it is increasingly clear that some are more vulnerable than others to the economic shock. We need to make sure that, during this period, no one slips through our social security safety net by ensuring everyone has access to enough cash to meet the basic cost of living. And we need to do it immediately. ..."

"We are in the midst of a severe, global recession. The spread of the COVID-19 pandemic has caused countries to implement the most significant public health interventions in post-war history. Entire populations are now practicing social distancing and isolation. The effects on GDP are expected to be significant, with some forecasters predicting a quarterly contraction of 15% over the next three months for the UK. Unemployment is expected to reach levels not seen since the 2008 financial crisis, with almost half a million new applications to universal credit in less than two weeks. ..."