Economic insecurity will continue for a decade - RSA boss

Economic fears will endure
Economic fears will endure
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Millions of people face the next decade fearing a more insecure labour market with little faith the state is willing to help them, an expert will warn on Monday.

In his annual lecture as chief executive of the Royal Society for the encouragement of Arts, Manufactures and Commerce (RSA), Matthew Taylor will argue that economic insecurity has become the "new normal", lying behind much public pessimism and anger.

Showing that insecurity is a social ill that affects more people than commonly thought, he will argue that changes in the economy, in policy and our view of ourselves have made insecurity "endemic".

Tackling this new "social evil" means changes ranging from labour market and welfare reform, including pilots of universal basic income, to lifelong learning and building the self-help capacity of communities, he will say.

A poll of 2,000 people, commissioned to accompany the speech, found that 40% were not confident of leading a decent standard of living in 10 years and 78% believe workers face more uncertainty and anxiety about their jobs than they did a generation ago.

Most of those surveyed said they believed the Government should provide more support to people to help them become more financially secure.

Mr Taylor will say: "There is no question that economic worry is the new normal for millions of people in this country."