First published in The Guardian on 25th June 2024.
The Guardian is correct to agree with US presidential candidate Senator Robert Kennedy who said in 1968 that growth figures measured everything “except that which makes life worthwhile” (‘The Guardian view on GDP: a poor measure of what matters in Britain’s economy’ 20 June 2024).
More than half a century later, it is important to recognise that a thriving economy makes an important contribution to the collective wellbeing of the people of the UK. But GDP remains a poor measure of social progress. Famously it measures criminal activity but not caring responsibilities, and takes no account of the impact on public health or planet.
That’s why the next UK Government should ground its decision-making in a wide range of statistics that measure our collective wellbeing. Building on the excellent work by the Office for National Statistics, Ministers and officials need to complement GDP data with a broad basket of figures about the reality of our lives and our impact on the environment. That would allow Ministers and others in power to calibrate their decision-making carefully, rather than getting their heads turned by the next set of growth figures.
Carnegie’s Life in the UK Index revealed yawning gaps in wellbeing between different groups in our society. Only when similar datasets are used to underpin policymaking will governments have any hope of systematically tackling the biggest problems of our time.