Strong leadership is the key to future prosperity

Time for a story that has nothing to do with Brexit.

The 2018 Legatum Prosperity Index is out today, and the trends are positive: global prosperity – a metric that takes into account not just GDP, but also factors such as wellbeing, health, and security – is at its highest since the think tank launched this comprehensive and thought-provoking index 12 years ago, meaning that more people around the world are enjoying prosperity, in its broadest sense, than ever before.

That’s not to say that the picture is entirely rosy. The gap between the most and the least prosperous countries is widening, while safety and security appear to be declining, driven by war and oppression.

The report also lays bare the stark reality facing many of the world’s poorest, noting that a third of the global population has struggled to buy food at some point during the past year. Taken alongside the signs of progress elsewhere, this should sharpen the minds of politicians looking to evaluate their global (and domestic) development priorities next year.

However, great strides forward have also been made, and in a week when talk of trade deals dominates the conversation, the UK should take note of fast-growing countries like Indonesia, India, and Nepal.

And what of Britain itself? We are ranked seventh, up three places from last year, with particularly high scores for our business environment.

Good news? Definitely. But one final point we should consider from this report is its conclusion that “prosperity is dependent on good leadership”. True, this is stated in the context of countries that have more recently created pathways from poverty to prosperity, but it is a lesson that Britain should note nonetheless.

This week, the headlines have focused on the weak leadership of the Prime Minister, as she tries to rally support for her Brexit deal: in the House of Commons on Monday, in Wales and Northern Ireland yesterday, and then by suggesting a televised debate with the opposition leader.

Jeremy Corbyn, meanwhile, has yet to produce a concrete overview of Labour’s plan for Brexit, denying the country an alternative to Theresa May’s dwindling authority. And neither of the two main parties seem particularly enamoured of their present leaders.

Britain should be proud of the political and judicial institutions that underpin our democracy, and that, as the Legatum Index demonstrates, are so crucial to building a prosperous nation. But we should also be aware of the present lack of leadership on display – and hope for a renewal in 2019.

Our future prosperity depends on it.