Attacking the recession - discussion report launched

Today we call on the Government to take bold action to deliver a ‘new economic deal’ for the UK by committing to long-term infrastructure and investment to regenerate the UK’s economy.

‘Attacking the Recession’, takes a comprehensive look at how the UK could innovate out of a recession.  The report is co-authored by Charlie Leadbeater, author of We-Think and NESTA Visiting Fellow, and James Meadway, with contributions from several colleagues throught NESTA Policy and Research Unit.

We will be presenting the report tonight (4th December) to Lord Drayson, Minister for Science and Innovation, at a panel event which will include lastminute.com entrepreneur Brent Hoberman.

You can follow a live webcast Thursday 4th December 5:30pm of the event here.

The report urges the Government to focus on setting long-term goals to rebuild the economy beyond the short-term fiscal stimulus of the Pre-Budget Report. 

Some of the key recommendations in the report:

• The roll out of £15 billion ultra-fast broadband network to enable people to be better connected to the job market;
• A £1 billion early stage fund for innovative technology ventures
• A national economic strategy to establish and grow dynamic high-potential sectors like low-carbon technologies and healthcare
• An innovative approach to public services including setting up social and business networks to help the unemployed find work, and foster entrepreneurship;

The report argues that the recession will provide an opportunity not just for economic growth, but also for addressing the major social challenges ahead. For example, investing in environmental technologies could generate £12 billion in revenues to the by 2020 and connecting the UK to high speed broadband would benefit businesses and the unemployed by staying in touch with new opportunities for work.

Let us know what you think, either in the comments, or via twitter @innovationedge.

Comments

[Steve Day]

Encouraging economic growth, whether through innovation, the arts, nano-technology or whatever is missing a fundamental point and a clear opportunity in the crisis.
Starting from the viewpoints of One Planet Living (current rates of consumption in the UK require three planets) and the futility of material acquisition (which does not make us any happier after a certain level) the inevitable economic correction now underway gives us a chance to review our national and international priorities and create a new post crunch settlement based on economic convergence (where we all aim for One Planet Living), economic fairness and defining our status not by our gold bathtaps but by how much time we have to spend helping out neighbours and how simply we can live.

Social Enterprise is a great way to start on this agenda and it is going on already all round the world. Let's make it the default way to do business!

[Payday Loans]

President-elect Barack Obama’s selection of Nancy Killefer to head the office is part of the economic stimulus package that is the first goal of Obama in his first term on order to boost the ailing economy of the United States. Her duty will be to eliminate unproductive government programs and ensure that taxpayer money does not go to waste. A Chief Performance Executive makes sure that the services or products that a company offers performs up to standards, like payday loans, and the Obama administration will need all the help it can get. In these dire times in the economy, we cannot afford to waste any more money on unnecessary dealings. Hopefully Barack Obama’s economic stimulus plan will bring the American country out of recession and restore confidence into the heart of its people. Of course, like I stated earlier, accomplishing this goal will need the full support of the entire Obama administration.

[J Collins]

I hope they took the suggestions to heart. There is a definitive for more investment in developing technology and green solutions. The amount of revenue to be derived from renewable energy and better connectivity is substantial, and it will generate industry also, which is one of the best ways to beat recession back.

[Bunch of non-sense]

attacking recession through the use of long term investment would not solve our problem now, as stated these are all LONG TERM INVESTMENT, before investing in these we should ask if we as a united nation will survive through this long term investment and as the taxpayer would you want your money spent here or some where else.

What can be done? (attack recession at the heart of it all = the people)
as you can already see the tax payer is already bailing banks and etc from this recession, but that would not clearly solve the problem and all these intrest and vat drops will not make the people spend money as they already have debts and bills to pay during this period of recession.

What I am trying to say is why bail banks with our tax money when it could be used to bail the people!, this would result in a chain reaction - the banks would get their money back (invest or use it for something else), some people will be cleared of debt which would then result too more spending and thus the global market will move again.

We need to learn from our mistakes and stop trying to use the same method to solve this recession if bailing banks not gona help why not attack it at the heart of this crisis.

Banks dont run the nation its the people.

[Payday loans]

Recession had held our economy from uplift. So,we have to look for investment.