EOA Backs Calls for Policy Reform to Fix UK Economy

A cross-sector report launched today in Parliament by the Future Economy Alliance calls for a dedicated UK Government Minister to overhaul economic policy.

The EOA is one of the 30 mission-led organisations in the Alliance that believes profits must also benefit people and planet  We’ve collaborated to develop policy measures to reshape the national economy, which are detailed in a new ‘Business Plan for Britain’.

The Future Economy Alliance is a growing partnership that collectively employs an estimated four million (around 10% of the UK workforce) that is making a huge economic contribution and representing a significant voter base in an election year.

The Asks – Business Plan for Britain

As part of the Alliance, we are calling on the UK Government to appoint a dedicated Minister who can drive cross-departmental strategy to unleash the full potential of mission-led business.

Additionally, we support a number of policy interventions ranging from tax incentives to corporate governance reform that could be implemented to build a stronger, fairer, and more sustainable national economy.

Key Focus Areas

With public services from healthcare to housing and energy to water struggling to meet demand and maintain quality, the Alliance’s Plan highlights the ways mission-led organisations can deliver better for the UK, and demands an end to profiteering private providers in state-funded contracts.

To reignite the Levelling Up agenda, the  Plan urges tackling inequality by devolving local economic power to communities; this could include legislation giving people the right to buy local community assets, shape local public services and influence local spending, as well as support for mission-led organisations through local ownership hubs.

As the rapid rise of innovative technologies looks set to aggravate workforce skills shortages, the  Plan recommends a National Data Strategy to not only harness but share the benefits of emerging tech, unlocking growth and empowering workers so that nobody is disadvantaged by this ‘fourth industrial revolution’.

Given the growing climate crisis, the Plan details how mission-led models offer green solutions that work at scale and pushes for a people-powered transition to help deliver Net Zero, with proposals ranging from a Wellbeing of Future Generations Act to reforming critical infrastructure and access to green investment.

Why it’s Important

Ultimately, the Plan details how government and business can work in partnership to put mission at the heart of our national economy, with more organisations driving social and environmental benefits alongside financial profit.

“EO businesses have a significant role to play in the future, already supporting a more prosperous economy by driving up productivity, job creation, investment and employee well-being,” said James de le Vingne, CEO of the EOA

“Alongside a wealth of other mission-led businesses, we have evidence and experiences that can shape build a better working world and unlock the potential of the UK economy with better impacts for people and planet.”

Arvinda Gohil OBE, chair of the Future Economy Alliance, said: “Business as usual’ isn’t working – so let’s do things differently. Let’s fix our economy and let’s fix our future.

“Millions of people across the UK work in mission-led organisations that show us the way to build a stronger, fairer, greener economy; we just need those in power to unleash the full potential of our movement, so that more businesses can put a mission at their heart, and this way of working becomes the national norm.

“With government and business working in partnership, we can build an economy where all of society profits.”

For more information on the new ‘Business Plan for Britain’ report and wider Future Economy Alliance campaign, click or tap here and follow @FutureEconomyUK on X (formerly Twitter).

For more information on how employee ownership supports a more prosperous economy read the latest evidence and follow us on X (formerly Twitter) and LinkedIn.

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