Two policies spring to mind:
Abolishing the House of Lords
GB Energy
Edit. Actually 3, https://labour.org.uk/stronger-together/britain-2030/green-and-digital-future/
Bidenomics might not be a US vote winner, but fiscal stimulus via the IRA is a solid economic idea
Autoflowers are so easy to grow, I haven't gone dankrupt in years, paying £10 a gram is crazy
Human problems have human solutions. A super volcano would kill us all.
I'm still waiting for the Abba party one
Very reminiscent of the cold war
GDP growth was similar in the twentieth century and the nineteenth, averaging 2.1 per cent in both cases. Higher productivity growth in the twentieth century therefore is associated with weaker growth of total hours worked, due to a combination of weaker employment growth and falling average hours
You don't understand your own link, 🤡
Yeah, sounds unlikely doesn't it?
But that's what the forecast says. 4% of productivity lost over the long term of 15 years due to loss of comparative advantage
https://obr.uk/forecasts-in-depth/the-economy-forecast/brexit-analysis
But the forecast is for the cost, no benefit is included.
The loss of comparative advantage is replaced, I'd argue, with competitive advantage which has a much stronger effect. The UK is no longer bound by the anti science regulations on genetic engineering and the new overly restrictive proposed regulations on AI
GDP per capita is a ratio of GDP / population, so if you do more with fewer people, by using automation, robots and AI, your GDP per capita will grow...
The 4% figure over 15 years is a difference of 0.29% to 0.27% productivity growth. Government policy has at least that 0.02% effect
I predict a Starmer govt will be able to introduce policy that will offset the productivity loss just by investing in renewable energy, let alone any research universities' innovations.
Economists said most of the reason for the divergence between the UK and the EU was down to the UK government’s energy price guarantee (EPG), which has capped the cost of gas and electricity bills to the equivalent of £2,500 a year for a typical household until July. In the eurozone there have not been similar caps fixing the price over a lengthy time period, meaning their inflation rates better reflect the recent global decline in wholesale gas and electricity prices.
Did you even read the article?
Economists said most of the reason for the divergence between the UK and the EU was down to the UK government’s energy price guarantee (EPG), which has capped the cost of gas and electricity bills to the equivalent of £2,500 a year for a typical household until July. In the eurozone there have not been similar caps fixing the price over a lengthy time period, meaning their inflation rates better reflect the recent global decline in wholesale gas and electricity prices.
Lol, no they're not. Productivity is not GDP...
And the 4% is over 15 years and is a result of loss of comparative advantage.
If you have to compound an effect over 15 years to get 4%, the effect is fuck all.
The Dunning-Kruger effect effect occurs when a person's lack of knowledge and skills in a certain area cause them to overestimate their own competence
That's you that is
Inflation Reduction Act