b"2.Government Policy, Regulatory and InstitutionalChangeKey issues Solu\x00onsEconomic growth usually measured as gross domes\x00c product (GDP) isTo deliver a sustainable future and prepare for future shocks, policy seen as a foremost measure of success and prosperity globally. But withframeworks, regulators and ins\x00tu\x00ons need to refocus on what society Britains economy likely to suer the worst damage from Covid-19, of anyvalues and what the intended outcomes of economic ac\x00vity should be. countryinthedevelopedworldaccordingtotheOrganisa\x00onforThe government needs to adopt na\x00onal indicators that measure and Economic Co-opera\x00on and Development (OECD) (Inman, 2020)21howgive value to social and environmental welfare, not just the pursuit of can we build back be\x00er? How can we ensure that government policy,economic growth and a higher GDP. These indicators might include health, regula\x00on and guiding ins\x00tu\x00ons deliver balanced social, environmentaleduca\x00on, life sa\x00sfac\x00on and air quality. According to van den Bergh andeconomicoutcomes,whicharemoreresilienttofuturesystem(2011),26 this does not mean dismissing economic growth en\x00rely, but shocks? Shortlisted essays that focused on Government Policy, Regulatoryplacing the emphasis on achieving environmental and social welfare and Ins\x00tu\x00onal Change suggested that to build from the corona crisis instead. to a more sustainable future, we must consider: What outcomes shouldPrize-winning entrant Yash Dewan urges the adop\x00on of Kate Raworths government seek in guiding a post-Covid economy? What should be theDoughnutEconomicsModel.Thismodelsuggeststhatthegoalof roleandscaleofgovernmentinterven\x00ons?Andwhatkindofeconomic ac\x00vity should be about mee\x00ng the core needs of all, but governance, leadership and modes of accountability do we need to deliverwithinthemeansoftheplanet.27Alreadyatamunicipalscale, the transforma\x00ons for a sustainable future? Amsterdam has pledged to embrace the model to mend the post-Covid economy (Boey, 2020).28 For the UK, placing this concept at the heart of Desired outcomes and governmentfuture policy decisions could begin with the near-term policy measures and scal s\x00mulus packages required to kick-start a green recovery. interven\x00ons Summarised by shortlisted entrant Sergiu Jiduc, if public spending drives A return to a normal, business as usual, model of growth is undoubtedlythe recovery, public funds should be used wisely, with the long-term view temp\x00ng to world leaders. Following this period of global lockdown andin mind. economic contrac\x00on, the pressure to choose the most immediate path to bolstering economic growth and returning ci\x00zens to work will be intense. However, entrants suggest that the government needs to take a longer-termview.SummarisedbyArleneBarclay,wemustlearnfromthe nancial crash of 2008 and seize the opportunity to align economic resilience with sustainability. Unsubsidised renewable energy is now cheaper than fossil fuels (IRENA, 2019)22and,accordingtotheGlobalCommissiononAdapta\x00onProfessor Tim ORiordan, UEAWe are going to need (2019),23 inves\x00ng in the green sector is one of the most eec\x00ve ways tosome kind of wealth tax, though the phrase is arguably s\x00mulate economic growth a\x00er a recession. The New Climate Economydamaging.Itshouldbepackagedasredistribu\x00on,a (2018)24 suggest that pursuing low-carbon and climate-resilient growthcentral theme to the sustainability message. Companies could generate $26 trillion in economic gains and 65 million jobs over themust be forbidden from inves\x00ng in oshore tax havens. next ten years. Capitalising on the clean energy transi\x00on has the capacity to deliver immense short-term benets, aiding the recovery from Covid- Weneedwealth-basedcounciltaxa\x00on,becausethe 19, while making us more resilient against threats like climate change.nancing of local government is s\x00ll hugely regressive. However,a'greenrecovery'willrequireara\x00ofgovernmentPart of this, and more controversially, is the idea that we interven\x00ons. Crucially, according to Parth Devalia, the level of stateneedagreatercontribu\x00onfromtheolderandmore interven\x00on to protect businesses and social welfare during this crisis has shown that the government is capable of leading, rather than leavingwealthy members of society, as part of a social investment progress to market forces, when threats loom. in the next genera\x00on.Governance, leadership and accountability Entrants highlighted a lack of accountability and siloed thinking as a barrier to the policy measures and regulatory changes needed to deliver a sustainablefuture.Manyalsomen\x00onedtheneedforgreater interna\x00onal coordina\x00on and coopera\x00on to deal with global systemic threats such as epidemics and climate change. According to shortlisted entrant Alicja Boryn, piecemeal policy statements made on all sides during the UK 2019 elec\x00on campaign (such as the unprecedented a\x00en\x00on on tree-plan\x00ng), lacked true radical spirit (Sharma, 2019).25 At the highest level of governance, this suggests that a narrow framing of sustainability s\x00ll persists and without pressure from business, civil society and the third-sector, we may miss the policy window for more substan\x00ve posi\x00ve changes which can help deliver sustainable outcomes and resilience as we come out of the crisis. 26 27"