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

4 December 2023

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.”