Nuffield Foundation event explored the importance of building a fairer, more resilient economic future
The role of effective social policy in building a strong and inclusive economy was explored by expert voices from public policy, local government, academia, and the third sector in an event hosted by the Nuffield Foundation to discuss the challenges and opportunities facing the UK over the next decade and beyond.
The event served to position the Nuffield Foundation’s role in the wider policy landscape, and our commitment to funding and undertaking work that prioritises prosperity, inclusiveness, and fairness.
The purpose of the event was to examine how evidence and innovation can be harnessed to address societal weaknesses in areas such as education, skills, health, and housing, and lay the foundations for a fairer, more resilient economic future.
Taking part in the panel were Sir Charlie Mayfield, who is leading the Keep Britain Working review, Helen Miller, Director at the Institute for Fiscal Studies, Kate Josephs, Chief Executive at Sheffield City Council, and Ravi Gurumurthy, Chief Executive at Nesta. The conversation was chaired by Ben Chu, Policy and Analysis correspondent at BBC Verify. The Foundation’s Chief Executive, Gavin Kelly, opened the event by framing the discussion within the context of its new Strategic Review, launched amid powerful headwinds currently buffeting the UK, including war in Europe, prolonged economic stagnation, rising populism, technological disruption, the escalating climate crisis, and declining public trust in institutions.
As one of the UK’s leading funders of social and economic research, we have a responsibility to help decision-makers confront the scale and urgency of the challenges facing society. Gavin set out how the Foundation’s five priority questions each address a critical issue of our time, and form a common thread across the work of the Foundation and its centres.
The first asks how we can achieve both prosperity and fairness exploring the trade-offs and policy sweet spots that advance them both.
The second question focuses on building an inclusive society amid changing demography and ways of life. It also informs our work on racial justice through the Racial Diversity UK fund, and prompts inquiry into new models of care for an ageing population and new pathways to intergenerational justice.
The third question considers how developments in science and technology can be harnessed for the benefit of people and society, in an era where technological advances often outpace our understanding of their potential benefits and harms to society.
Climate change, is the fourth area of focus, and a new but essential priority for the Foundation. Its impact on social equity and distribution raise questions about how the burdens of the net zero transition can be shared fairly.
Finally, we are seeking to explore the role of effective and trustworthy institutions. With people’s trust in decision-making bodies under stress, the Foundation wants to support institution-building in order to better engage the public, and strengthen confidence in governance.
Issues explored by the panel include:
- How vital employment is for people, society, and a strong economy – and the need to make progress in employment rates for those with significant health problems.
- The impact of decades of stagnation on people lives and communities
- The challenges of supporting young people who have never had a job into employment
- How a child struggling at the age of five, is very likely to still be struggling at 16
- The value of designing effective policies so money can be spent wisely
- The importance of seeking to shape how the private sector invests in issues like skills, in addition to considering public sector budgets.
- The need for critical infrastructure such as public transport so people can access education, training and job opportunities
- The choices that funders, like Foundations, make and whether they should focus on the biggest issues, or the most tractable.
The event closed with a reminder that the Strategic Fund is open for original and ambitious projects that address the scale and urgency of the UK’s most pressing social and economic challenges, many of which were explored throughout the discussion.
