The UK's Office for National Statistics is developing an alternative to GDP that factors in non-monetary contributions to gauge sustainable economic growth more accurately.
Instead of focusing solely on monetary transactions, the inclusive income method considers home-cooked meals, unpaid caregiving, and renewable energy benefits to assess overall economic performance.
Gross inclusive income per person grew by 2.8% in 2022, maintaining the same rise as in 2021, highlighting the ongoing contributions beyond traditional economic measures.
Net inclusive income has been more volatile but showed a significant increase of 5% in 2022, showcasing the integration of environmental impacts in economic assessments.
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