Low Skills Costing UK Economy

This week has brought the announcement that our economy is suffering hugely for want of a better standard of education amongst our citizens. According to a report commissioned by the OECD and compiled by leading economists, 20% of pupils leaving school in Great Britain today do not have the basic skills in areas such as numeracy and literacy to make a financial contribution to our society.

The economists’ calculations demonstrate that the cost of reducing inequality and raising achievement to a baseline of necessary skills would be more than counteracted by the potential increase in the UK’s national output that a skilled workforce would bring. The report estimates that if inequality and underachievement are correctly addressed, the UK economy could grow by more than £2tn by 2095.

The report also underlines the gap in achievement between the sexes and the need to redress the balance from both a social and an economic viewpoint.

At Bringing Words to Life, we recognise just how important these basic functional skills are, and our work on literacy and communication allows us to work with the most disadvantaged to ensure greater opportunities for them both within and outside of the world of work.

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