The public does not think the UK economy is working for young people, or those living outside the south of England, a study by think tank IPPR has revealed.

Two in three (67%) think the economy works badly for young people, while 53% believe it works badly for people outside the south, a Sky Data poll commissioned by IPPR has found.

Seven in ten (70%) say the economy does not work for people who do not own a home - and 74% say the same for people born into poor families.

Just 22% of people think the way the economy works is fair, with 48% saying it is unfair - rising to 63% among those aged under the age of 35.

And 53% think the way the economy works has become less fair over the last decade, with Conservative voters more likely to say the economy has become less fair (38%) than more fair (15%).


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The findings come as IPPR's Commission on Economic Justice - backed by leading figures including the Archbishop of Canterbury Justin Welby - called for "fundamental reform" of an economy that is "not working".

Among the reforms supported by the majority of the British public are:

Regulating companies like Google and Facebook in a similar way to broadcasters (84%)

A new corporation tax for companies who misleadingly report zero profits in the UK (83%)

An increase in the minimum wage to £8.75 per hour (80% support)

Making it compulsory to have workers on company boards (63%)

Asking the Bank of England to adopt policies to keep house prices from rising (60%)

A higher minimum wage for zero hours contracts at 20% above the standard minimum wage (56%)

Establishing a publicly owned investment bank (55%)

Greater government borrowing and investment (52%)

Raising capital gains tax to the same rate as income tax (50%)

Catherine Colebrook, chief economist to the Commission on Economic Justice at IPPR, said: "This new polling data shows the disillusionment people feel with the economy as it works now.

"Old and young, Conservative and Labour, Leave and Remain - among all groups, the prevailing sense is that the economy does not work in a fair way and that it is becoming increasingly unfair over time.

"There is remarkable support for fundamental reform, suggesting the British people are ready for a new kind of economy and a new kind of economic policy."

Labour's shadow chancellor John McDonnell said the findings were "today's equivalent" of the Beveridge report, a seminal document which played a part in the founding of the welfare state.

Image: John McDonnell compared the findings to the Beveridge report

"The IPPR have provided a clear analysis of the underlying long-term weaknesses of our economy, setting out a series of creative policy initiatives.

"Just as Beveridge did for welfare, this report could transform our approach to economic policy making."

Sky Data interviewed a nationally representative sample of 1,330 Sky customers online 17-20 August 2018. Data are weighted to the profile of the population. Sky Data is a member of the British Polling Council and abides by its rules.

For full Sky Data tables, please click here.