The right kind of growth for everyone: policy challenges during the digital and green transformations

Abstract

The UK, like other Organisation for Economic Co-operation and Development (OECD) economies, has experienced a dismal decade and a half since the financial crisis. The reason lies in the dual technological transition, energy and digital, which is prompting structural shifts in the economy that require a co-ordinated policy response. This implies the need for more co-ordinated policies and more active intervention in the structure of the economy than has been the case in recent decades. It requires a broader measure of economic progress than short-term Gross Domestic Product (GDP) growth and above all a long-term perspective.