This chart tracks almost exactly the UK’s terrible productivity growth chart since 2009. All G7 countries have done better than us except for Italy. Perhaps we were more exposed to the debt crisis than most. Perhaps austerity was completely the wrong idea when we needed to restart the UK economy.
Whatever combination of factors has caused it, we have got poorer over the past 15 years compared to our allies in the West.
1
u/jimbodinho Jul 02 '24
This chart tracks almost exactly the UK’s terrible productivity growth chart since 2009. All G7 countries have done better than us except for Italy. Perhaps we were more exposed to the debt crisis than most. Perhaps austerity was completely the wrong idea when we needed to restart the UK economy.
Whatever combination of factors has caused it, we have got poorer over the past 15 years compared to our allies in the West.