Robert McCann, the chief executive of UBS Wealth Management Americas, will tonight launch a report on the challenges to the US economy at a client evening in New York City, encouraging a fundamental re-examination of the role the government assumed after the 2008 crisis.  

The report, Revitalizing America: Forging a New Path toward Economic Prosperity, was authored by UBS WMA’s chief investment strategist Michael Ryan and is a review of “individual investor concerns and choices that we can make as a nation to improve our long-term economic prosperity,” the private bank said. It was informed by a survey UBS conducted with 2,500 current and prospective clients.

The following nine broad solutions to the US’ current problems are proposed: entitlement reform; revamping of the tax code; easing of regulatory burdens; educational reform; apprenticeship training programs; liberalization of immigration policies; technology transfers; public-private partnerships and increased investment in infrastructure.

This comes at a time when much of the West, which for a long time has been economically dominant, is questioning its role, as it is perceived as being less dynamic than the emerging economies, with older populations, lower growth rates and large debt burdens.

“US investors’ concerns about global competitiveness, the budget deficit, unemployment, and the dollar, have inspired us to initiate a conversation with our clients about what it will take to revitalize America,” McCann said.

The report forms part of a wider “Revitalizing America” initiative, which will include a series of speaking engagements hosted by UBS, as well as other events, details of which will be released over coming weeks.