The £10,000 essay prize for early career policy analysts and professionals seeks to answer a critical public policy question. This year the prize sought answers to the question: “What kinds of policies will enable left behind places to catch-up?”
Ed’s essay, entitled Regionally Adjusted Domestic Product – A New Statistic for Seeing the Shape of the Economy, proposes a new regionally adjusted GDP statistic. The new statistic that Ed proposes would provide a ‘regionally-adjusted domestic product (RADP)’ to highlight the uneven regional distribution of economic activity in the UK which is not captured by the national GDP figure. The new RADP statistic would provide a new lens to guide decision-making by policymakers so that policies can better support regional economies in the UK.
The Bennett Prospect Public Policy Prize is awarded by the Bennett Institute for Public Policy at the University of Cambridge.