The Lowdown from Nick Cohen Ep 11: The Stagnation nation - is the UK's decline unstoppable? with Profesor Jonathan Portes
This week, Nick Cohen gets The Lowdown from Jonathan Portes , Professor of Economics and Public Policy at King's College London, ex- Chief Economist at the Cabinet Office. Jonathan is also a Senior Fellow of the Economic and Social Research Council's UK in a Changing Europe initiative, which examines the UK's now troubled relatIonship with the EU.
Can anything be done to prevent the UK's growing economic crisis? Is decline inevitable? Jonathan reveals how the UK's growth rate shrank by three-quarters following the 2008 crash. Now the country's annual growth rate is an anaemic half a percent with the economy projected to double every 120-140 years instead of the pre-2008 35-year period. Inevitably, Brexit's not helping as it hits trade and tax revenues. But there are other systemic failures.
Jonathan says there's plenty of things a new Labour government could do - despite the calamity of Brexit - to try and run things around: build homes, reform social ansd tax policy plus up-date our dysfunctional and decrpit voting system
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