Wellbeing economy

That this House welcomes the call made by President Michael D Higgins of Ireland on 28 April 2023 at a reception for the Think-Tank for Action on Social Change to look beyond the current obsession with economic growth and rebalance economy, ecology and ethics; notes that this call is well-aligned with the aims of the European Parliament’s examination of the Beyond Growth agenda; further notes that such a call has far-reaching implications for the teaching and practice of economics in which the obsession with perpetual growth has left society blinkered to the ecological catastrophe we now face; agrees with President Higgins that an alternative paradigm of social economy within ecological responsibility is already within reach; further agrees that this new paradigm must now find its way onto the curriculum where economics is taught and into the board rooms and government ministries where economics is practised; and calls on the Government to match the ambition and leadership shown by the Irish President and the European Parliament by supporting the development of a post growth economics, conducting a review of the growth dependency of the economy and developing a comprehensive strategy to transition to a wellbeing economy.