Income Equality and Sustainability

Lord Moynihan Excerpts

Wednesday 6th May 2020 Lords Chamber

[Lord Moynihan (Con)]

My Lords, I congratulate the most reverend Primate on initiating this debate. It is timely, since Covid-19 has provided politicians with the opportunity to put well-being before growth. The crisis which has brought so much pain and damage has also given rise to greater social interaction and neighbourliness, and a desire not only to take care of each other but to show respect and affection for those who care for us. NHS workers and carers across the country have become an intrinsic, tangible part of our family and daily life, whom we now depend on and embrace. Their prominence has been made possible as fast living and the consumer-driven lifestyles that fuel income inequality have been put on hold. In their place, the appeal for voluntary helpers has exceeded all expectations. Party politics effectively evaporated in the corridors of care. In place of prejudices and barriers, we are witnessing social cohesion, friendliness and mutual support. People have rediscovered those they live with.

Income inequalities are divisive the world over. As with other sustainability issues, the social and business consequences are inseparable. Correlations between a nation’s degree of income inequality and its rates of domestic abuse, crime and obesity will come to the fore again. Every one of these “social” problems blights and imposes a huge tax on society. But this health emergency provides the opportunity for a new approach and for closer collaboration, transitioning to sustainability in an overcrowded world.

It is not just our politicians but our companies, our religious leaders and our opinion formers who have a responsibility as we emerge from Covid-19. We must all take ownership; we must all take action; we must all take an interest. We must not ignore the important lesson we have learned: that we can put well-being before the excesses of economic growth.