The Economics Show What’s wrong with Britain’s economy? With Sam Bowman
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Nov 28, 2024 
Sam Bowman, founding editor of Works in Progress and an expert in UK economics, dives into Britain's economic struggles. He discusses how restrictive investment policies have led to stagnation, with soaring housing and energy costs compared to France and Germany. Bowman examines Brexit's impact, the challenges posed by rising energy prices on manufacturing, and the urgent need for transformative policies. He advocates for radical changes in urban planning and energy solutions to boost economic growth and infrastructure.
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UK Economic Stagnation
- Britain's economic growth has stagnated relative to other Western European countries and the US.
- This stagnation began before 2008, and the UK is about 25% poorer than it could have been.
Double Trouble for the UK
- The UK faces both the US's problem of building constraints and Europe's high energy prices.
- This combination makes the UK's situation uniquely challenging compared to other Western countries.
Root of the Housing Crisis
- Britain's housing shortage stems from the 1947 Town and Country Planning Act.
- This act removed the requirement for local authorities to compensate landowners for blocked developments.