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National Institute UK Economic Outlook Summer 2024 – The Economic Inheritance for the New Government

Author

Listed:
  • Paula Bejarano Carbo
  • Arnab Bhattacharjee
  • Benjamin Caswell
  • Hailey Low
  • Monica George Michail
  • Stephen Millard
  • Max Mosley
  • Adrian Pabst
  • Robyn Smith
  • Tibor Szendrei

Abstract

The incoming government has inherited a UK economy with poor productivity growth and stagnant living standards. At the same time, taxes are higher as a proportion of GDP than at any time since 1949, while public services are clearly in need of more investment, public infrastructure needs to be improved, defence spending needs to be increased in light of increasing geopolitical risks, and the transition to net zero will require investment in green technology. In this Outlook we explore these issues with the aim of generating a deeper understanding of these economic challenges and providing the new government with a policy framework for addressing them.

Suggested Citation

  • Paula Bejarano Carbo & Arnab Bhattacharjee & Benjamin Caswell & Hailey Low & Monica George Michail & Stephen Millard & Max Mosley & Adrian Pabst & Robyn Smith & Tibor Szendrei, 2024. "National Institute UK Economic Outlook Summer 2024 – The Economic Inheritance for the New Government," National Institute UK Economic Outlook, National Institute of Economic and Social Research, issue 15, pages 7-22.
    • Handle: RePEc:nsr:niesra:i:15:y:2024:p:7-22
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    File URL: https://www.niesr.ac.uk/publications/aspiration-public-investment
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