We must revamp our economic model to recognise true value of labour

Human capital is an asset, not a cost. It is what drives all our progress, but currently most workers are locked out of participation in the enterprises where they work

‘Labour must be treated an equal stakeholder in the production and distribution of the goods and services that make up our life quality’

In the recent budget, the government forecast that we are entering into a lengthy period of low growth, averaging 2 per cent per year out to 2030. You’d have to go back a long way to find an extended period of such low growth. When you also take into account the effects of climate change, technological disruption and an ageing demographic, the economic and social challenges will be extensive and highly disruptive.

We can’t continue ...