Economic Growth: Who actually benefits?

The UK maintains unacceptably high levels of poverty and extreme inequalities of wealth, with millions of people feeling financially insecure. A strong economy can increase wages and employment, but evidence suggests that will not in itself reduce poverty. This means that regardless of significant economic growth, the overall standard of living could show little change and could even get worse, if growth policies benefit higher income households more than lower income ones.

Additionally, we find ourselves in a period of global geopolitical instability and rising energy prices. The Government’s spending priorities are changing, as seen through the diversion of funds from foreign aid to defence spending.

Our expert panel will examine these structural challenges and assess the impact of economic growth on households’ financial resilience. Speakers include Rachael Maskell, MP for York Central; Danny Sriskandarajah, Chief Executive of the New Economics Foundation; Ruth Curtice, Chief Executive of the Resolution Foundation; and Hetan Shah, Chief Executive at the British Academy and Chair of Our World in Data. The session is chaired by Paul Kissack, Group Chief Executive of Joseph Rowntree Foundation and Joseph Rowntree Housing Trust.

This event is one of a number marking 100 years since the York confectionery businessman, social reformer and philanthropist Joseph Rowntree died. Discover the impact of his work on the city and how his legacy continues to support a vision of a more equal society, free from poverty.

Find out more about the Joseph Rowntree Centenary.

This event is part of the Festival Focus ‘Making Waves: Building on Joseph Rowntree’s legacy’ presented in collaboration with the Joseph Rowntree Foundation. You may also be interested in ‘Sustainable Futures Through Regional Growth’ taking place the same day.