Although it is early days, it does now look as if a cyclical recovery is starting in the UK economy. The best evidence is the recovery in retail sales from its six-year post-Covid slump. Since consumer spending is around 60% of GDP, a consumer recovery is critical to getting GDP rising. The recovery is also […]
Even the Chancellor’s own fan club in the Office for Budget Responsibility think Wednesday’s Budget won’t boost growth. Chart 1.3 on page 9 of its latest ‘Economic and Fiscal Outlook’ shows how a 1.4% boost to GDP from higher public spending will be more than offset by a 1.5% decline in GDP from the rest of […]
The UK economy is at best flatlining, with output growing at roughly the same pace as the population. By the beginning of this century, following the bedding in during the 1990s of the Thatcherite reforms of the 1980s, the UK economy had nearly caught up with the United States as measured by GDP per capita, […]
