Adrian Ramsay: GDP focus not way to fairer society, says Greens co-leader

The UK’s main GDP measure is produced by the Office of National Statistics (ONS) and tries to measure the overall size of the economy.

It plays an important role in deciding tax and spending decisions, because the government relies on official forecasts for GDP to work out which policies are affordable.

It is also expected to play a major role in the UK’s general election campaign.

Rishi Sunak cited economic growth figures in his speech announcing the poll, whilst Labour has made achieving the “highest sustained growth” in the G7 club of wealthy nations one of its five missions for power.

In recent years, a number of alternative measures have been developed that try to capture other aspects of the economy.

Since 2010, the ONS has also measured well-being, external, external alongside economic growth. This assesses health, relationships, education and skills, as well as people’s personal finances and the environment.

However, critics say GDP still occupies too important a role in debates about the economy.

In documents setting out their philosophy, the Greens say it promotes a focus on “consumerism” and other indicators would better capture the extent to which economic policies protect nature and improve well-being.