Intelligence Squared The Economy in 2023: Where Do We Go From Here?
Jan 9, 2023
Jonathan Portes, an economist and professor at King's College London, and Victoria Scholar, Head of Investment at Interactive Investor, delve into the UK economy's outlook for 2023. They discuss the lasting effects of Russia's war on Ukraine and the implications of inflation and Brexit. Their conversation covers public sector pay dynamics, the impact of interest rate hikes, and how geopolitical tensions could hinder economic growth. They also explore potential opportunities in sectors like AI and green technology amidst these challenges.
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UK Economy 2023 Outlook
- The UK economy faces challenges in 2023, including a likely recession and long-term structural problems.
- Falling global energy prices should lower inflation, but Brexit continues to hinder economic progress.
Macroeconomic Outlook
- The UK faces a challenging macroeconomic outlook in 2023, with high inflation and a potential recession.
- Inflation should fall as the Bank of England's interest rate rises take effect and energy prices ease.
Economy 2023: Good, Bad, Uncertain
- The UK economy in 2023 presents "the good, the bad, and the uncertain."
- Inflation should fall, but economic growth will be difficult, especially in the first half of the year.
