Climate Goals: Wellbeing Economy

Mr Smith supports the debate topic, emphasising that GDP is a poor measure of societal wellbeing and human happiness. He argues for adopting wider criteria in public expenditure decisions to lead to better outcomes. Mr Smith also highlights the need for systemic change in bus services as an example of applying different metrics leading to tangible improvements.

Stressed the importance of a bottom-up approach to change, involving constituents in open discussions and taking action based on their needs. Cited examples from her constituency, including climate assemblies and a report called 'Cynon Valley after covid', which advocated for green jobs, secure employment with good terms and conditions, and local economic activity.

Claire Hanna highlighted the inadequacies of GDP as a measure, noting that it does not account for societal benefits such as raising children or clean air. She pointed out income inequality in the UK is at its highest level since decades ago, affecting overall societal cohesion. Hanna commended local initiatives like the Carryduff Regeneration Forum and others for their efforts towards environmental protection and community building.

I reminded hon. Members of the guidance from the Commission and the Government about wearing face masks when not speaking, giving space to other Members and staff, and testing twice weekly with lateral flow tests.

Questioned the belief that growth will trickle down to poorer members of society, suggesting instead a better sharing of resources within current ecological limits.

I am delighted to be called to speak first after the hon. Member for Brighton, Pavilion. We are lucky in Scotland that we have begun making changes required to move away from focusing entirely on economic growth and toward looking at the wellbeing of our population. In schools throughout Scotland, children are aware of their rights under the UN Convention on the Rights of the Child. It is important for people's wellbeing that they are aware of their rights and can fight for them. There is no point in focusing solely on economic growth if inequality continues to rise.

Mr McFadden noted the limitations of GDP as an economic measure, highlighting its failure to account for equality and social inclusion. He supported the concept of measuring wellbeing through indices such as a healthy living index and stressed the importance of considering environmental impacts in our economy's transition towards sustainability. Emphasising the long-term costs of delaying action on climate change, he advocated for Labour's commitment to invest annually over a decade in sustainable heating and low-carbon transport infrastructure.

Mr Patrick Grady discussed the importance of reframing the debate around economic measures to focus on wellbeing and climate goals, citing examples from Scotland's national performance framework. He highlighted the need for a shift in policy towards measuring societal progress through indicators such as the number of girls cycling to school, reflecting broader social benefits.

Ms Maskell expressed concern about the global south paying for the exploits of the global north and argued that COP27 will be a reckoning for the UK Government. She highlighted Kate Raworth's work on doughnut economics and proposed York's green new deal, BioYorkshire, aiming to create 4,000 green-collar jobs and upskill 25,000 people while taking 2.8 million tonnes of carbon out of the atmosphere. Ms Maskell also discussed the importance of a wellbeing economy and the need for embedding principles such as a real living wage, employee wellbeing, environmental responsibility, and ethical sourcing in business practices.

I thank the hon. Member for Brighton, Pavilion for securing this important debate. We do not have an economic system geared up to ensure that everyone flourishes. Growth means nothing to families struggling and pensioners needing care. With real political will, we can develop a system of economic metrics that centres our economy around what should be the most important measure of success: wellbeing.