A GAME Plan for Britain: Unlocking Growth Through Purpose and People

The UK Government has set its sights on economic growth, an ambition I fully support. However, the approach currently being pursued—one that relies heavily on the financial sector’s guidance—will not deliver the outcomes we need. Growth isn’t achieved through short-term financial engineering or a deregulated banking system; instead, it stems from long-term investment in human capital, innovation, and conscious capitalism.

The stark contrast between the US and UK markets provides a telling lesson. Many have attributed the outperformance of the S&P 500 over the FTSE 100 to a supposed light-touch approach to regulation and an unrelenting focus on profit maximisation. This is incorrect. What has truly driven America’s economic success is its embrace of the four Ps: Purpose, People, Planet, and Profit—a framework that balances financial success with social and environmental responsibility.

The Case for Conscious Capitalism

Businesses that integrate the four Ps outperform those that don’t. Known as Firms of Endearment, these organisations have outpaced the S&P 500 by 14-fold over 15 years. Their success is built on investing in people, ensuring that employees, customers, and communities thrive. This, in turn, builds brand value and increases intangible asset valuation—one of the key drivers of economic success in the 21st century.

Unlike traditional industries that rely on tangible assets, high-growth economies prioritise sectors rich in intangible assets—intellectual property, technology, and innovation. Today, 90% of the S&P 500’s market value comes from intangibles, whereas the FTSE 100 remains anchored to older industries, limiting the UK’s growth potential.

Empirical Evidence for Change

Since the 2008 financial crisis, the UK has lagged behind its global peers:

• Equity Market Growth: UK markets have grown just 2.2% per year, compared to the 8.4% annual growth in the US.
• Real Wages: UK workers are now £10,000 worse off annually compared to pre-crisis trends.
• Productivity: Since 2007, UK productivity has grown by just 5%, while other developed nations have surged ahead.

This stagnation is not due to a lack of capital. UK pensions and insurers hold £6 trillion in long-term investments. The problem lies in how this capital is allocated. Overinvesting in low-growth banking and traditional industries prevents the UK from catching up with nations prioritising the future.

The UK’s Best Growth Bet: AI and Human Capital

While many of the government’s growth initiatives are misguided, one stands out as a step in the right direction: the AI Opportunities Action Plan.

The government has approved all 50 recommendations of this plan, which aims to shift the UK from being an AI adopter to an AI builder—a move that could add £400 billion to our economy by 2030.

The Three Pillars of AI-Driven Growth:

✅ Infrastructure Revolution

• A 20x increase in AI compute capacity
• AI Growth Zones, starting in Culham
• Next-gen nuclear power to support sustainable AI development

✅ Talent & Education Transformation

• A major expansion of AI education programmes
• A new flagship AI scholarship initiative
• Support for business upskilling programmes

✅ Business Support Framework

• A “Scan > Pilot > Scale” approach for AI adoption
• AI Sector Champions for key industries
• A new AI Knowledge Hub to support businesses

What This Means for the UK

This plan aligns with the four Ps and shifts focus towards human capital investment. AI will not only drive economic growth but will also reduce income inequality and create sustainable, well-paid jobs. The challenge, however, lies in execution. Building technical infrastructure is straightforward—building human infrastructure is not. The businesses that invest in AI upskilling today will be the ones that lead tomorrow’s economy.

A GAME Plan for Britain

If the government is serious about growth, it must adopt a GAME Plan—a strategy built on Goals, Actions, Means, and Execution:

• Goal: Achieve sustainable economic growth by investing in human capital and innovation.
• Actions: Shift investment from traditional banking towards intangible-rich industries like AI, technology, and renewables.
• Means: Leverage the £6 trillion in UK pensions and insurance to drive innovation and education.
• Execution: Ensure the AI Opportunities Action Plan is not just implemented, but scaled effectively.

By prioritising Purpose, People, Planet, and Profit, the UK can reclaim its place as a global leader in economic growth. This is the real path to prosperity—one that benefits all, not just a select few.

The world is moving fast. If Britain wants to keep up, now is the time to act.

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Q&As for ‘A GAME Plan for Britain’

Q1: What is the main argument of the article? A1: The article argues that the UK Government’s current approach to economic growth, which is heavily influenced by the banking sector, will not succeed. Instead, true economic growth comes from investing in human capital, innovation, and conscious capitalism—focusing on Purpose, People, Planet, and Profit (the 4Ps).

Q2: Why is the reliance on banking a flawed growth strategy? A2: The banking sector operates with a low market-to-book ratio and relies on tangible assets, which limits explosive growth. In contrast, high-growth sectors, such as technology and healthcare, thrive on intangible assets like intellectual property and innovation, which drive long-term economic success.

Q3: What evidence supports this argument? A3: The article highlights that since 2008, UK markets have grown by only 2.2% per year compared to the US’s 8.4%. Real wages in the UK have stagnated, leaving workers £10,000 worse off annually, and productivity growth has been just 5%—significantly lower than peer nations.

Q4: What is the significance of ‘Firms of Endearment’? A4: Firms that operate under the 4Ps framework—balancing purpose, people, planet, and profit—have outperformed the S&P 500 by 14-fold over 15 years. This shows that companies prioritising long-term stakeholder value achieve superior financial performance.

Q5: How does the success of the US economy support this argument? A5: The US economy’s outperformance is often misattributed to deregulation and profit-driven policies. However, the real driver has been investment in innovation, human capital, and industries rich in intangible assets. This approach has led to 90% of the S&P 500’s market value coming from intangible assets, unlike the UK’s reliance on traditional industries.

Q6: What is the UK Government’s AI Opportunities Action Plan? A6: The UK Government has approved all 50 recommendations of the AI Opportunities Action Plan, which aims to transform the UK from an AI adopter to an AI builder. It is expected to add £400 billion to the economy by 2030.

Q7: How does AI fit into the UK’s growth strategy? A7: AI is a prime example of an industry that aligns with the 4Ps and prioritises human capital investment. The plan includes an expansion of AI education, AI Growth Zones, and the integration of next-generation nuclear power to support sustainable AI infrastructure.

Q8: What are the key pillars of the AI Opportunities Action Plan? A8: The plan focuses on three key areas:

• Infrastructure Revolution: Increasing AI compute capacity, AI Growth Zones, and sustainable energy sources.
• Talent & Education Transformation: Expanding AI education, launching scholarships, and upskilling businesses.
• Business Support Framework: Helping industries adopt AI with a ‘Scan > Pilot > Scale’ approach and providing AI Sector Champions.

Q9: What is the GAME Plan and why is it important? A9: The GAME Plan stands for Goals, Actions, Means, and Execution. It offers a structured approach to achieving sustainable economic growth by prioritising investment in human capital, innovation, and high-growth opportunities rather than traditional financial capital strategies.

Q10: How can the UK successfully implement this plan? A10: The UK must shift its capital allocation from traditional industries to future-focused sectors, ensure the AI Action Plan is fully implemented and scaled, and embrace the 4Ps framework to create sustainable and inclusive economic growth.

Q11: What should businesses do to prepare for this shift? A11: Businesses should invest in AI upskilling, adopt the 4Ps model, and focus on leveraging intangible assets such as innovation and intellectual property to drive long-term success.

Q12: What is the key takeaway for policymakers? A12: Policymakers must move beyond de-regulation and banking-centric strategies and instead invest in industries that drive real economic growth—technology, AI, renewables, and human capital. By doing so, the UK can secure its place as a global economic leader.