The report outlines the possibility of an Italy – like decline due to declining economic performance in the years ahead.
Report from The Resolution Foundation, summarises five challenges:
- problems linked to Brexit
- on top of those faced by other countries including the impact of COVID-19, the transition to a net-zero carbon economy, an ageing population and technological change.
Without proper plans risked failing to address the slowest productivity growth for over 120 years in the past decade and higher inequality than any country in the European Union except Bulgaria
- “The UK’s recent record of weak productivity, stagnant living standards and high inequality makes a new economic approach desirable”