Think-tank: Investing health is key to kickstarting the growth

A think-tank argues that investing in the health of people, both physically and mentally, is one way to spur economic growth.

In a report as well as an opinion piece, the Good Growth Foundation argues that the government should put money into improving health at the core of its growth plans.

In a report titled ‘Mind the Growth Gap,’ more than half (56.6%) of those polled ranked ‘investing health’ as the most attractive plan to grow the economy. This was ranked alongside ‘creating new opportunities’.

More than half of respondents (53%) said that investing in mental healthcare would kickstart the economy either a great deal (19%) or just a little (34%). The majority of respondents (60%) said that focusing on physical health would be beneficial for the government. This was split between 21% who thought it would help a great deal and 39% who believed it would only help a little.

The report stated that “the most popular measures for stimulating the economy are those that put people at the center – their skills and their health.

“The public knows that there can be no productive economy if millions of people are unemployed due to illness. The public does not see the point of creating jobs when the local population lacks the necessary skills. They understand that people can’t thrive when they are stranded due to hopeless transportation links.

“Growth policies should therefore be focused on healthcare, skill and transport.” “Policy areas that have a less tangible link, like clean energy and housebuilding, should be linked back to the actual benefits for people, which are lower bills, lower rent, or lower mortgages,” the report added.

Separately, The Times has today highlighted the research of the foundation, arguing that over a third (35% of 1,200 businesses) feel employee absences are a hindrance for their business. A similar percentage (32% warns of the difficulty of retaining employees.

The report also revealed that over three quarters (78%) are calling for measures to improve the mental and physical well-being of people of working age to increase their participation in the labour force and to boost growth.

Praful Nargund is the director of the foundation and told the newspaper that “the message from UK businesses is clear: The government must address workforce issues to improve economic stability, growth, and stability.”