Resolution Foundation report on ending stagnation is an important one – unions must be at the heart of any plan to reverse economic decline

Respected thinktank the Resolution Foundation has today published an extensive report into how we get the economy working again.

Ending Stagnation: A New Economic Strategy for Britain is the final report of The Economy 2030 Inquiry, a cross party look at what we need to do to reverse the economic decline of the last decade. In particular the report finds that  low growth and high inequality are a toxic combination for low-to-middle income Britain and the young.

It recommends a whole new approach, with increased and more predictable public spending, a focus on increasing skills, and the ability to build on what works so we actually get the maximum benefit from success stories.

Mike Clancy, General Secretary of Prospect, said:

“This is a welcome report on the future of the economy.

“Resolution Foundation’s own research finds that the decline in worker bargaining power, the result of decades of de-unionisation along with increased market power of employers, costs the average worker around £100 a week in lost wages, and has been a major contributor to income polarisation.

“A strategy to reboot the UK economy that doesn’t include a plan to rebuild the role of responsible trade unionism simply won’t work.”