A view across the City at dusk. Photograph: James BrittainIt will be a second financial crisis in the 2010s – probably sooner than later – that will prove to be the remaking of Britain. Confronted by a second trillion-pound bank bailout in less than 10 years, it will be impossible for the City and wider banking system to resist reform. The popular revolt against bankers, their current business model in which neglect of the real economy is embedded and the scale of their bonuses – all to be underwritten by bailouts from taxpayers – will become irresistible. The consequent rebalancing of the British economy, already underway, will intensify. Britain, in thrall to finance since 1945, will break free – spearheading a second Industrial Revolution.
In 2035, there is thus a good prospect that Britain will be the most populous (our birth rate will be one the highest in Europe), dynamic and richest European country, the key state in a reconfigured EU. Our leading universities will become powerhouses of innovation, world centres in exploiting the approaching avalanche of scientific and technological breakthroughs. A reformed financial system will allow British entrepreneurs to get the committed financial backing they need, becoming the capitalist leaders in Europe. And, after a century of trying, Britain will at last build itself a system for developing apprentices and technicians that is no longer the Cinderella of the education system.
It will not be plain sailing. Massive political turbulence in China and its conflict with the US will define part of the next 25 years – and there will be a period when the world trading and financial system retreats from openness.
How far beggar-my-neighbour competitive devaluations and protection will develop is hard to predict, but protectionist trends are there for all to see. Commodity prices will go much higher and there will be shortages of key minerals, energy, water and some basic foodstuffs.
The paradox is that this will be good news for Britain. It will force the state to re-engage with the economy and to build a matrix of institutions that will support innovation and investment, rather as it did between 1931 and 1950. New Labour began this process tremulously in its last year in office; the coalition government is following through. These will be lean years for the traditional Conservative right, but whether it will be a liberal One Nation Tory party, ongoing coalition governments or the Labour party that will be the political beneficiary is not yet sure.
The key point is that those 20 years in the middle of the 20th century witnessed great industrial creativity and an unsung economic renaissance until the country fell progressively under the stultifying grip of the City of London. My guess is that the same, against a similarly turbulent global background, is about to happen again. My caveat is if the City remains strong, in which case economic decline and social division will escalate.
Will Hutton, executive vice-chair of the Work Foundation and an Observer columnist
3 Global development: ‘A vaccine will rid the world of Aids’
Within 25 years, the world will achieve many major successes in tackling the diseases of the poor.
Certainly, we will be polio-free and probably will have been for more than a decade. The fight to eradicate polio represents one of the greatest achievements in global health to date. It has mobilised millions of volunteers, staged mass immunisation campaigns and helped to strengthen the health systems of low-income countries. Today, we have eliminated 99% of the polio in the world and eradication is well within reach.
Vaccines that prevent diseases such as measles and rotavirus, currently available in rich countries, will also become affordable and readily available in developing countries. Since it was founded 10 years ago, the Gavi Alliance, a global partnership that funds expanded immunisation in poor countries, has helped prevent more than 5 million deaths. It is easy to imagine that in 25 years this work will have been expanded to save millions more lives by making life-saving vaccines available all over the world.
I also expect to see major strides in new areas. A rapid point-of-care diagnostic test – coupled with a faster-acting treatment regimen – will so fundamentally change the way we treat tuberculosis that we can begin planning an elimination campaign.
We will eradicate malaria, I believe, to the point where there are no human cases reported globally in 2035. We will also have effective means for preventing Aids infection, including a vaccine. With the encouraging results of the RV144 Aids vaccine trial in Thailand, we now know that an Aids vaccine is possible. We must build on these and promising results on other means of preventing HIV infection to help rid the world of the threat of Aids.
Tachi Yamada, president of the global health programme at the Bill & Melinda Gates Foundation
4 Energy: ‘Returning to a world that relies on muscle power is not an option’
Providing sufficient Advertising: ‘All sorts of things will just be sold in plain packages’
Advertising in Tokyo. Photograph: Mike Long / Alamy/Alamy
If I’d been writing this five years ago, it would have been all about technology: the A woman works on the production line of a poultry processing factory in Stary Oskol, central Russia. Photograph: Sasha Mordovets/Getty Images
When experts talk about the coming food security crisis, the date they fixate upon is 2030. By then, our numbers will be nudging 9 billion and we will need to be producing 50% more food than we are now.
By the middle of that decade, therefore, we will either all be starving, and fighting wars over resources, or our global food supply will have changed radically. The bitter reality is that it will probably be a mixture of both.
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