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The long hard slog to reach the goal of faster growth
实现更快增长目标的长期艰苦努力

Britain is in a hole and the government is right to try to dig it out
英国正深陷泥潭,政府应努力将其掘出。

Britain has a growth problem. This is not unique. The fitted trend growth of UK GDP per head between 2008 and 2023 was a miserable 0.7 per cent a year. But trend growth was still lower in France and Italy. Even in the US growth of GDP per head was only 1.5 per cent. For a host of reasons, including rising dependency ratios, adverse shocks and weak productivity trends, economic growth has tended to be feeble in the UK’s peer countries. This strongly suggests that raising growth sharply in the UK will be hard.

英国面临增长问题。这并非独有现象。2008年至2023年间,英国人均国内生产总值(GDP)的拟合趋势增长率仅为每年0.7%,令人沮丧。但法国和意大利的趋势增长率更低。即使在美国,人均国内生产总值的增长也只有1.5%。由于多种原因,包括抚养比上升、不利冲击和生产率趋势疲软,英国的同类国家的manbetx20客户端下载 增长往往疲软。这强烈表明,要在英国大幅提高增长将是困难的。

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