Y7 Economy track policies announced

Calling for a more inclusive, forward looking approach to labour markets that leaves no person or country behind

Y7 Economy track policies announced

After collecting thousands of young people’s thoughts, views and experiences across the world, the Y7 Economy delegates have put together policy suggestions to be presented at the Y7 14th-15th May. These will then be presented to the world leaders at the G7 summit in Cornwall, UK on June 11-13th, 2021. 

“COVID-19 is exacerbating inequalities and pushing millions into poverty. We therefore need bold, sustainable investment today, that is responsible and justifiable to future generations. We envisage a world where our economies drive inclusive and forward-looking labour markets and societies, and leave no country behind.”

The suggested policies focus on:

Inclusive, forward-looking labour markets and society

By 2030, Y7 delegates call for G7 leaders to implement:

  1. Promote social mobility and address rising child poverty across the G7 by increasing expenditure for universal quality education, and considering unconditional basic income for young people and families with children.

  2. Improve employment prospects of young people, including those not in education, employment and training, through strengthening vocational training, incentives for green and digital job creation, and public-private upskilling initiatives.

  3. Embed job quality and pay into youth employment strategies and monitor outcomes, while ensuring workplace policies close labour market gender gaps and promote the mental health of young workers.

International economic cooperation 

By 2030, Y7 delegates call for G7 leaders to implement:

  1. Enshrine environmental standards in trade agreements, including by eliminating tariffs on environmental goods and services, enforcing transparency of the environmental impacts of supply chains, and promoting trade of secondary materials.

  2. Penalise companies that fail to take concrete steps to eliminate child and forced labour and human trafficking in supply chains, and enforce international conventions on decent work and human rights.

  3. Jointly develop indicators of economic performance that supplement GDP and integrate well-being, sustainability, and inclusivity outcomes, and commit to a roadmap to benchmark and align budget decisions to these indicators.

Leave no country behind

By 2030, Y7 delegates call for G7 leaders to implement:

  1. Fulfil their commitment to raise ODA to 0.7% of national income, focusing on achieving the SDGs through cross-sectoral action, including by closing funding gaps for the GPE and the WFP.

  2. Coordinate, accelerate and scale up existing crisis response frameworks by increasing financial commitments and accessibility, to strengthen the resilience of the most vulnerable countries to economic, social and environmental crises.

  3. Reform intellectual property systems, including TRIPS, embedding a development approach to innovation that closes knowledge gaps, starting by temporarily waiving COVID-19 patents, increasing technology-sharing through C-TAP, and addressing procurement barriers.

Do you agree with these policy suggestions? Let us know in the comments below. 

Header Image Credit: Photo by Chronis Yan on Unsplash

Author

Tom Inniss

Tom Inniss Voice Team

Tom is the Editor of Voice. He is a politics graduate and holds a masters in journalism, with particular interest in youth political engagement and technology. He is also a mentor to our Voice Contributors, and champions our festivals programme, including the reporter team at the Edinburgh Festival Fringe..

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