Competition entrants should propose a single policy initiative which would have a major impact on both of these criteria:
- Increase economic prosperity and/or improve social outcomes for a substantial segment of the bottom third of the income distribution in the UK and other advanced economies
- Increase the economic freedom of the population as a whole.
There may be a trade-off to be made between the short-term and medium- to long-term impact of a policy; but there should be a logical expectation of a material improvement in both criteria over the longer term.
Based on these criteria, competitors are invited to compose a ‘Free-Market Breakthrough’ policy which would cover any novel policy suggestion that would improve economic prosperity and social outcomes in developed countries, as well as improve economic freedom.
The essay must be between 2,000 and 3,000 words. Essays which are shorter or longer will be disqualified. The word-count should be given at the end of the essay. This word count must also include an executive summary of 200 words or fewer, to be inserted at the start of the essay in a separate box.
- The essay must be uploaded to the competition website breakthroughprize.org.uk by 23:59 GMT on Monday 9 January. This is the only method of submission that shall be accepted, and any essays submitted after the closing date will be rejected. For more specifics on submission requirements, see below.
- Submissions are welcomed from individuals, groups of individuals, academia, the not-for-profit sector and all corporate bodies. Students must identify themselves in their submission in order to be eligible for the Student Prize.