Laura Sharman 01 February 2021

School closures could costs hundreds of billions in lost earnings, study predicts

School closures could costs hundreds of billions in lost earnings, study predicts image

The long-run cost of lost schooling could be as much as £350bn, a new study from the Institute for Fiscal Studies (IFS) has warned.

The research highlights that by February half-term, children will have lost at least six months of normal schooling. It predicts that in the long-run this will lead to lost earnings worth £350bn.

IFS warns children from lower-income families are likely to suffer the most from long-term effects, resulting in further educational inequality.

It is calling for a 'massive injection' of resources to help pupils properly catch up, as the £1.5bn already allocated won't be enough.

Luke Sibieta, research fellow at the IFS, said: 'A loss of over half a year of normal schooling is likely to have far-reaching long-run consequences. We will all be less productive, poorer, have less money to spend on public services, more unequal and we may be less happy and healthy as a result.

'Standard evidence on the returns to schooling would imply a total loss of £350bn, or £90bn under incredibly optimistic assumptions. The inescapable conclusion is that lost learning represents a gigantic long-term risk for future prosperity, the public finances, the future path of inequality and well-being.

'We therefore need a policy response that is appropriate to the scale of the problem. One useful benchmark is the £30bn it normally costs for half a year of schooling in the UK.'

SIGN UP
For your free daily news bulletin
Highways jobs

Mayoralty & Business Manager

London Borough of Richmond upon Thames and London Borough of Wandsworth
£41,292 - £50,034
The Mayoralty & Business Manager will be responsible for maintaining the reputation of both Mayoralties and promoting a positive image of... London (Greater)
Recuriter: London Borough of Richmond upon Thames and London Borough of Wandsworth

Joint Assistant Director - Communities and Wellbeing

Babergh & Mid Suffolk
£75,000
Babergh and Mid Suffolk District Councils are at the forefront of joint working and are a progressive award-winning partnership Ipswich, Suffolk
Recuriter: Babergh & Mid Suffolk

Customer Services Assistant - Annualised Hours

Essex County Council
£18029 - £19329 per annum
Customer Services Assistant - Annualised HoursPermanent, Part Timeup to £19,329 per annum pro rataLocation
Recuriter: Essex County Council

Customer Services Assistant - Annualised Hours

Essex County Council
£18039 - £19329 per annum
Customer Services Assistant - Annualised HoursPermanent, Part Timeup to £19,329 per annum pro rataLocation
Recuriter: Essex County Council

Practice Supervisor - Children & Families Service - Northallerton

North Yorkshire County Council
£39,880 - £43,857 per annum pro rata + relocation support
An exciting position has arisen for an enthusiastic, well-motivated Practice Supervisor to join the Northallerton team. White Rose House, Northallerton. We very much promote flexible working with the ability to work remotely from a variety of bases as well as from home, whatever makes sense and is suitable to provide the best service.
Recuriter: North Yorkshire County Council

Public Property

Latest issue - Public Property News

This issue of Public Property examines how how flexible workspaces can lead the way in regeneration for local authorities, Why local authority intervention is key to successful urban regeneration schemes and if the Government’s challenge of embracing beauty is an opportunity for communities.

The March issue also takes a closer look at Blackburn with Darwen Council's first digital health hub to help people gain control over health and care services.

Register for your free digital issue