Too often, success in accessing our top professions is down to the lucky accident of birth. Too often, structural inequalities mean that young children find themselves imprisoned on an inescapable path. By the age of five, there is a clear academic attainment gap between children from rich and poor families. This increases throughout school. The benefits of being born to wealthy parents do not just accrue to the talented – in fact, less-able, better-off kids are 35% more likely to become high earners than bright poor youngsters. The resultant domination of our top professions like medicine, law, finance and the arts by the elite and independently educated is staggering.
The case for social mobility is not just a moral one. It also makes business sense. The Boston Consulting Group (BCG) in 2010 found that failing to improve low levels of social mobility will cost the UK economy up to £140 billion a year by 2050. Some top businesses understand this, and are working hard to widen access.
More must be done to widen access to elite professions; on the part of schools, universities, businesses and the government. This is the conclusion of the All Party Parliamentary Group (APPG) on Social Mobility, of which I am co-Chair, and which released its report this week. Titled ‘The Class Ceiling’, the report is the culmination of a detailed inquiry, with the help of the Sutton Trust, over the last year. The inquiry looked at the causes and extent of the problem, investigated what is currently being done, and recommended tangible policy actions.