Director’s Remarks, UK and Global Economic Outlook August 2021

"Welcome to the National Institute of Economic and Social Research for the release of our Summer 2021 Global Economic Outlook and our UK Economic Outlooks. Our Global Economic Outlook focusses on the developments in the world economy projected by our global econometric model, NiGEM as well as providing scenarios to help us understand emerging macroeconomic issues. The National Institute UK Economic Outlook assesses the aggregate picture but increasingly places weight on its micro underpinnings at the sectoral, household and regional level. We are hugely encouraged to think that a large part of the COVID19 crisis is now behind us. But in its wake the crisis has left many questions about regional and national resilience, as well income inequality, that policymakers must address. The call for better forms of cooperation has more often been made than answered
but with more than 4mn deaths and countless lives disrupted, a new approach and institutional capability must be found."