Archie Hall, The Economist's Britain economics correspondent, discusses the murky economic prospects leading up to the UK elections, stressing slow growth and party strategies. Max Norman, the culture correspondent, delves into Venice's controversial new day-tripper fee aimed at managing crammed tourist hotspots. Sophie Petters, Paris bureau chief, reflects on the 80th anniversary of D-Day, honoring veterans and drawing parallels to contemporary conflicts. Their insights weave a narrative on economic challenges and cultural preservation.
Britain's sluggish growth attributed to low productivity and aging population.
Venice's daytripper fee aims to regulate tourism but faces skepticism and limited effectiveness.
Deep dives
British Election Heating Up
As the British election approaches, the main parties' leaders are engaging in debates and discussions, focusing on key issues like the economy, immigration, and healthcare. Despite the lack of charismatic leadership, the polls indicate a strong lead for Labour over the Conservative Party, with Keir Starmer likely to form the next government. However, both parties face challenges with public services and economic growth, with the need for significant improvements in the UK economy to meet fiscal targets.
Challenges in Britain's Economy
Britain's economy faces sluggish growth primarily due to issues with productivity growth since 2008. The aging population and slow productivity improvements have hindered economic progress, leading to challenges in meeting fiscal forecasts without borrowing more or raising taxes significantly. Economists cite a decline in total factor productivity and lack of investment as major contributors to Britain's economic struggles.
Addressing Tourism in Venice
Venice has implemented a daytripper permit, charging a 5 euro access fee to regulate tourism and curb overcrowding. While some residents express skepticism and opposition, the fee aims to manage over-tourism and provide additional revenue for the city. However, exemptions and limited time restrictions may limit the fee's effectiveness in reducing tourist numbers during peak hours, pointing towards a more symbolic impact rather than a significant deterrent.
As Britain’s general-election campaign heats up, party leaders are vague on their economic plans. With growth so slow, how could the victor energise the economy? We visit the D-day beaches 80 years on, as war rages in Europe once again (10:19). And Venice’s new daytripper fee is designed to curb crowds. But putting a price on protecting beauty is proving controversial (17:42).