Research and advice to promote economic inclusiveness and sustainable growth
In an inclusive economic system, financial services such as pensions, as well as the labour market and housing market, are accessible to all. We are committed to ensuring accessibility by conducting research and by advising the government on economic policy.
As an independent public body, we provide solicited and unsolicited advice to the government. We look at issues with a longer-term perspective to ensure the economy works well for everyone, including future generations. We provide advice about the organisation of the financial system and the economic system, such as the housing market, the labour market and the pension system.
Housing market: accessibility and sufficient supply
An inclusive housing market means an accessible housing market with sufficient housing supply. Renting a property must be just as affordable as buying a property. In the current situation, affordable rented homes in the non-subsidised sector are in very short supply. We could solve this problem by allowing the non-subsidised sector to grow. Young households could benefit from a more flexible rental market, since their work and family situations are typically subject to change. The same applies to new entrants on the housing market. They often have insufficient income or savings to buy a home and therefore depend on the rental market.
Labour market: equal opportunities for all
An inclusive labour market means an accessible labour market with equal opportunities for all. This includes the right balance between flexibility and job security. The share of flex workers and self-employed persons in the labour force has grown sharply in recent years, from 16% in 2003 to 29% in the first quarter of 2020. This is partly the result of government policy. Some people have opted for self-employment because of tax advantages. However, when a firm runs into trouble, flex workers and self-employed persons are often the first to feel the consequences and lose their jobs. If they become unemployed or sick, they often have insufficient back-up resources, or even none at all.
Sustainable and inclusive economic growth
Inclusive growth means an equal distribution of both financial and non-financial prosperity. By conducting research and providing advice on these financial and non-financial aspects of prosperity, we contribute to an inclusive financial and economic system.