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- Title
UK Economic Growth since 2010: Is it as Bad as it Seems?
- Authors
Crafts, Nicholas
- Abstract
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.
- Subjects
UNITED Kingdom; ECONOMIC development; ECONOMIC conditions in Great Britain, 1997-; ECONOMIC policy; INDUSTRIAL productivity; SUPPLY-side economics
- Publication
National Institute Economic Review, 2015, Vol 231, pR17
- ISSN
0027-9501
- Publication type
Article
- DOI
10.1177/002795011523100103