The Adam Smith Institute's new education report "Incentive to Invest: how education affects economic growth" was featured in The Times Educational Supplement journal.
Increase private education to boost GDP, study says:
Sending more children to private schools would add billions to the British economy, according to research released this week. GDP per capita int he UK could have been more than 5,000 higher in 2007 if access to private education had been opened up using taxpayer-funded vouchers, the report claims. This is because greater competition between private schools promotes better quality education, thus improving the economy, it argues. In the UK, 7 per cent of students attend private schools. But the study by right-wing think thank the Adam Smith Institute claims that if between 1960 and 2007 the attendance level had matched that of the Netherlands, where two-thirds of students are independently educated, the UK's annual growth rate would have been nearly 1 percentage point higher.
The report, “Incentive to Invest: How education affects economic growth”, reveals that Britain could add billions of pounds to its long-term economic growth by increasing access to private education.
Read the report here.