This year the Welsh Government introduced a 'Future Generations Bill'. It requires all public sector bodies to think about the long-term impact of their actions i.e. sounds great now but what will be the effects 15, 30, 50 years down the line.
We already have equality impact assessments for all Government policies to see how they will affect low-income households, women vs. men, ethnic minorities etc. This hasn't prevented the Tories from ignoring horrific findings from such assessments and ploughing on regardless but at least it provides some accountability and also ammunition for those of us who seek to oppose the unfairness of their ideas.
If I was on the National Policy Forum I'd suggest we propose a new 'Future Generations Impact Assessment' for all new legislation. The assessments could consider environmental sustainability of a policy, the intergenerational fairness of it (i.e. does it benefit current generations to the detriment of future ones) and the financial implications (for example, the current tuition fees system is grossly unsustainable and even more so now Osborne is piling more debt upon debt by changing maintenance grants into loans, this kind of policy would be spelt out in more detail by a 'Future Generations Assessment').