‘A Labour blueprint for inclusive growth’

The world is changing faster than ever before. And if we are to meet the challenge and deliver on the government’s number one mission – economic growth – then we must start with young people. The truth is simple – growth that isn’t inclusive will never last. Our ability to compete globally depends on whether we can equip every young person with the skills, confidence and opportunities to thrive in the industries of the future.

That’s why the launch of Hammersmith & Fulham’s Pathway Bond in Parliament last week was so significant. I was pleased to unveil it alongside the Rt Hon Darren Jones MP, Minister Stephanie Peacock and our local MP Ben Coleman, who share our belief that opportunity and inclusion must be at the heart of the national growth mission. 

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The Pathway Bond is part of Upstream London, our borough’s industrial strategy in partnership with Imperial College London. Back in 2017, we made a deliberate choice to put the tech industries of the future – science, technology, engineering, maths, medicine and media (STEM³) – at the heart of our local economy.

Growth only matters if it changes lives

Eight years on, the results speak for themselves. We’ve attracted £6 billion in investment, created over 13,200 new STEM³ jobs, and turned Hammersmith & Fulham into the fastest-growing economy in London. We’ve seen White City emerging as one of the world’s leading innovation districts – a place where global companies sit alongside startups, scaleups, research institutes and schools, working together to shape the industries of tomorrow. But our mission has always been about more than numbers. Growth only matters if it changes lives.

That’s where our Pathway Bond comes in. It brings together businesses, educators and the council to create clear routes from classroom to career, so every young person – whatever their background – can see a future for themselves in the industries shaping our economy. Already, nearly 100 major companies have expressed their interest in the Pathway Bond, offering mentoring, apprenticeships and work experience placements that open real doors.

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At the launch, Chief Secretary to the Prime Minister, Darren Jones MP, described Hammersmith & Fulham as “a case study for our government”. He is right. We’ve shown what happens when a council uses its convening power to bring business, academia and community together – when you combine public purpose with private investment.

That’s exactly the kind of partnership Labour believes in – one that empowers people, builds skills, and delivers growth from the ground up, and one which we should be replicating across the country.

We saw that in action with Lily, a young woman from White City. After meeting representatives from L’Oréal at one of our local Reveal events for school students, she applied for a degree apprenticeship. Today she’s designing displays for a global brand, headquartered in Hammersmith & Fulham, round the corner from where she grew up. Her story shows what’s possible when ambition meets opportunity.

Another young resident, Ely, told us how he finds it “exciting that we’re getting the opportunity to step into and gain experience in the industries we’ll be running in the future.” 

Maryam described learning about life sciences and green tech as “an amazing experience that boosted my confidence and teamwork skills.” These are real examples of how inclusive growth changes lives – and how it strengthens our economy.

Labour’s values in practice

This is Labour’s values in practice – fairness, opportunity, and a belief that economic success must be broad-based, not exclusive.

The UK has world-class research institutions and extraordinary entrepreneurial talent, but for too long we’ve failed to translate that into inclusive, long-term growth. Hammersmith & Fulham is proving that we can. By aligning entrepreneurial municipal government, business and education, we’ve built an innovation ecosystem that’s both globally competitive and socially grounded.

Now, with a Labour government committed to growth, skills and the industries of the future, there’s real cause for optimism. The Pathway Bond shows how we can connect national ambition with local delivery and turn good intentions into good jobs. 

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But it is not just a local policy. That’s why I was delighted to see government ministers recognise it’s a blueprint for how Labour in power can deliver growth that works for everyone.

It’s about creating the conditions where everyone, especially our young people, can thrive. That’s what we’ve done in Hammersmith & Fulham. And it’s what, together, we can do across Britain.

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