Cross-sector collaboration can prepare the UK economy for future challenges, according to a new report.
The 'Creating a Future Ready Economy' report, published by Business in the Community (BITC) in collaboration with Royal London and with analysis by University of Exeter, outlines how the UK can create a resilient, future-ready economy that delivers shared prosperity in the face of social, environmental and geopolitical shocks.
Launched at a reception in the House of Commons on Monday (20 Oct), the report comprises insights from consultations undertaken by BITC with more than 100 people, representing businesses, investors, academics, and communities.
It examines how the UK can create a future-ready economy that enables resilience to social, geopolitical, and environmental shock. It explores how addressing these challenges can drive economic growth, and the risks to future prosperity of ignoring them, as well as providing recommended actions for business and government.
The report was underpinned by analysis from two climate experts in the University of Exeter's Green Futures Solutions team, Dr Chioma Udeozor and Dr Jesse Abrams.
Recurring themes in the insights from the Creating a Future Ready Economy report show that:
- Business, government, and civil society must work together to ensure the UK economy is future-ready. This should be done through regenerating and supporting communities, making systems more resilient, and empowering leaders to ensure they are ready for a future that benefits everyone.
- Tackling our biggest social and environmental problems creates opportunities to drive economic growth in ways that build resilient, shared prosperity. The benefits that result from taking action will have far reaching impact, for example creating jobs, improving health and wellbeing, and creating stronger communities.
- A vision for a future-ready economy must be co-created and use a range of indicators to measure progress. Metrics must work together, not in silos. Measure progress in terms of resilience, inclusion, and positive impact on people and nature. GDP-focussed metrics alone are insufficient to measure the success of a future-ready economy.
- Policy must allow businesses and communities to innovate for growth and resilience. Leading businesses are already embedding climate resilience, social impact, and community support into their strategies, but policy clarity, stability, and alignment are needed to accelerate progress.
- The UK needs to capitalise on its position as a global leader in tackling social and environmental challenges. By embedding fairness and resilience into economic renewal, the UK can restore national trust and influence others to follow.
These insights reinforce the findings from BITC's State of the Nation 2025 report, which found that 80% of business leaders believe that responsible business would ensure long-term economic sustainability for the UK and 96% of UK business leaders have either maintained or increased the priority they give to tackling societal and environmental issues.
Gudrun Cartwright, Climate Action Director at Business in the Community,said: "To create a future that works for everyone, we need to ensure that our economy is future-ready - resilient to the increasing social, geopolitical, and environmental shocks, as Earth's systems become less stable. Business, government, and community leaders must work together to design and deliver a just transition to this new economy and find better ways to measure progress that demonstrate real benefits. Focusing collective efforts on making our economy future-ready, is essential to ensure that the UK can achieve lasting prosperity for business, resilience for communities, and health for people and nature."
Jo Walker, Head of Group Sustainability & Stewardship at Royal London, said: "Royal London is proud to be a modern mutual, owned by over two million members. Our mutuality empowers us to take a long-term view - prioritising outcomes that matter most to our members, customers, and society. This is captured in our purpose: 'Protecting today, investing in tomorrow. Together we are mutually responsible'. It guides our strategy, shapes our culture, and drives our commitment to sustainability. As a result, we champion a just transition through our investments, our operations, and how we support in building a fairer future for all."
