FT News Briefing Britain’s stuck economy
Mar 9, 2023
EY's plans for a split are on hold due to internal disputes. Meanwhile, Xi Jinping is poised to strengthen China's financial and technological sectors amidst a fierce tech rivalry with the US. The British economy faces significant stagnation, hindered by historical crises like Brexit and the global financial crash. Experts warn that without stable governance and investment, prospects for growth remain grim. The situation in London highlights the complexities of Britain's economic challenges, revealing it’s not just what it seems on the surface.
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UK Economy Decline
- The UK's economic growth decline started after the 2007-2009 financial crisis.
- Growth further slowed after 2016 when other countries began recovering.
Brexit and Productivity
- Brexit is a factor in the UK's economic slowdown, along with declining productivity in top sectors like finance.
- A surge in working people has reversed since the pandemic, compounding the issues.
Solutions for UK Economy
- Improve international relations and address issues like the property market to boost the UK economy.
- Encourage business investment by creating a stable and predictable policy environment.