Index shows progress on jobs and prosperity alongside challenges in health and housing
Since it was first published in early 2021, the RBI has demonstrated that access to better jobs, better housing, thriving communities, and strong economic prosperity are the key drivers of levelling up the country and improving people’s lives.
These drivers are underpinned by the need for people to be living in good health. Whilst the UK aggregated score on the RBI’s Health1 Index has remained flat since the last wave of the RBI, the overall score has fallen and inequalities have widened since 2021, with differences linked to income, region and age.
The latest RBI Report explores these changes and highlights the importance of a collaborative approach across stakeholders to create the conditions for better health for everyone. Broad investment in communities, including in housing and infrastructure, alongside measures to support wellbeing at work can help to reduce health inequalities and have strong support across the population.
Sir Nigel Wilson, Group CEO of Legal & General: “Joined-up action is vital to creating thriving, prosperous communities all over the UK. While there are some green shoots of progress, the latest tranche of data from our study underlines the long-term commitment and investment required to address the unequal distribution of wealth, opportunity, and even good health around the country.
“Those we spoke to are right to propose a rounded approach. By investing in infrastructure, building quality homes, and supporting wellbeing in the workplace, we have a real opportunity to create the conditions for better health and all the benefits this brings.”
John Godfrey, Director of Levelling-Up at Legal & General: “We often talk about the role that Government plays in improving the lives of those living and working in the UK, but businesses also wield significant influence. There are very practical decisions that UK businesses can make that can have an immediate difference to the lives of many.
“We know that many in the lower income brackets often lack access to workplace health benefits, receive low rates of statutory sick pay, and work unsociable hours – all things that drive them further from better health outcomes. If these approaches are adopted by employers more widely, independently or in collaboration with Government—as is being considered by the Treasury for those who may require support to take on health-related expenses—they can make a significant difference to those most in need.”
1The overall RBI Health metric is a composite measure of access to high quality primary, secondary and tertiary care; self-reported health; and life expectancy.
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.2 trillion in total assets under management* of which 39% is international. We have a unique and highly synergistic business model, which continues to drive strong returns. Legal & General provides powerful asset origination and management capabilities directly to clients, which also underpin our leading retirement and protection solutions. We are a leading international player in Pension Risk Transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Our purpose is to improve the lives of our customers and create value for our shareholders. Through inclusive capitalism, we are investing in long-term assets, such as real estate and infrastructure, that can help build a better society for the future.
*as at HY 2023