Helping poor children 'could lift economy'

Summer camps, extra lessons, help with university admissions and other schemes, could ultimately add 1.3trillion to the economy over the next 40 years, said the Sutton Trust, which promotes social mobility through education.

Management consulting firm Boston Consulting Group analysed how such schemes could improve exam results and increase lifetime earnings.

The consultancy calculated that bringing below-average students up to the national average would add 14bn a year to Gross Domestic Product by 2030 and 140bn by 2050.

According to the Mobility Manifesto report, someone with a university degree will earn 604,000 over their working lifetime, 108,000 more than someone with A levels alone, and 268,000 more than someone who fails to achieve five good GCSEs.

Trust chairman Sir Peter Lampl said: “The low level of social mobility in the UK is costing us vastly in financial terms and represents a tremendous waste of talent. This would matter less if the world around us was standing still. But it is not.

“Other countries are investing heavily in measures to boost school results and increase university participation.

“Their gains could be our loss - which is why this is such a crucial issue for all parties ahead of the General Election.”