A prerequisite to the inclusive prosperity that will increase equality and reduce poverty is growth. This requires an innovative economy in which productive businesses, the state and citizens work together to create wealth and ensure that globalisation works for many more people.

Chuka Umunna’s words, “A prerequisite to the inclusive prosperity that will increase equality and reduce poverty is growth,” highlight his belief that economic growth is the foundation for social progress. Without growth, he suggests, efforts to achieve equality or to fight poverty will lack the resources and momentum needed to succeed. By using the phrase inclusive prosperity, Umunna stresses that the benefits of growth must be widely shared rather than concentrated among a few.

He goes on to say, “This requires an innovative economy in which productive businesses, the state and citizens work together to create wealth and ensure that globalisation works for many more people.” Here, Umunna envisions a partnership between businesses, the state, and citizens. Rather than treating these actors as separate or adversarial, he sees their collaboration as essential to building an innovative economy that can adapt to change while distributing opportunity more fairly. The reference to globalisation shows his recognition that economic systems are interconnected, and that fairness must extend beyond national borders.

The origin of this quote lies in Umunna’s career as a British Labour politician, particularly during the years when he was Shadow Business Secretary. He often positioned himself as a centrist voice, advocating for a balance between enterprise and social justice. His remarks reflect a broader debate within the Labour Party over how to reconcile pro-growth policies with commitments to reducing inequality, especially in an era of rapid globalisation.

At its core, the quote expresses a pragmatic vision: growth is necessary, but it must be shaped to serve society rather than the other way around. Umunna is not rejecting globalisation but urging that its rewards be more evenly distributed. His words carry both optimism—that prosperity can be made inclusive—and a challenge, that doing so requires intentional cooperation across all sectors of society.

Would you like me to also frame this in contrast to more radical left-wing views, which sometimes see growth itself as the problem rather than the solution?