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- UK Economic Growth Since 2010: Is It As Bad As It Seems?
UK economic growth since 2010: is it as bad as it seems?
External Authors
Crafts, Nicholas
Related Themes
Macro-Economic Dynamics and PolicyJournal
National Institute Economic Review, No. 231
Publisher
Sage Publications, London
External Resources
This paper reviews UK supply-side policies since 2010 in terms of their impact on growth and considers medium-term growth prospects in the context of the puzzle of disappointing post-crisis TFP performance. It is argued that there is no reason to believe that growth prospects have deteriorated significantly compared with the pre-crisis period. Changes in policy under the Coalition government are unlikely to have made a big difference to growth potential. On the one hand, this means opportunities for radical reform have been ignored; on the other hand, there has been no repeat of the 1930s’ debacle.
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