The above graph appears in the Gummer-Goldsmith report. It is used to support the recommendation that Britain uses measures of well-being in addition/ as a replacement for measures of economic performance.
The ISEW (Index of Sustainable Economic Welfare) takes account of domestic labour, income inequality, costs of environmental degradation and non-defensive public expenditures as well as personal consumer expenditure. It would appear that Britain did a lot better during the Heath years than it ever did during the Thatcher-Major years and Blair-Brown have gotten a lot closer to those happy Heath years than Margaret Thatcher ever did.
How many other gifts does this 547 page report contain for Labour?
The overall balance of the policy groups has been excellent but I hope David Cameron will distance himself from much of this report very quickly.
I’ve just returned from the press conference – came back in a cab with Oliver Letwin (the conversation was lively) – and the green groups there were very enthusiastic. Most of the questions from the press focused on air taxation. John Gummer declined to answer a question about how many flights he and the other policy group members had taken in the last year. He simply said that he needed a 4×4 because of the nature of his constituency and that he offset all of his carbon footprint.