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Foreward

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  • Chadha, Jagjit S.

Abstract

The country is facing the twin traumas of managing two exits. Exit from the Covid-19 crisis and from the European Union. Of course, much of the world is dealing with the first and the European Union has also had the latter with which to contend. But the UK, and indeed Ireland, is set to lose permanently some 5-8% of national income as a result of the scarring from these events. There can be little doubt that it is a dire moment in our national history. And it is against that backdrop that the National Institute is launching a new form of its Economic Outlook for the UK. We will continue to work with our aggregate model of the UK that conditions on our global econometric model (NiGEM) but also link a sectoral model of the UK and develop modelling of the income deciles in the regions. This will allow us to take a view on better policy responses to shocks and events that not only accounts for the interactions between sectors but also allow us to measure the implications for regions and for households across the income spectrum.

Suggested Citation

  • Chadha, Jagjit S., 2021. "Foreward," National Institute UK Economic Outlook, National Institute of Economic and Social Research, issue 1, pages 1-3.
    • Handle: RePEc:nsr:niesra:i:1:y:2021:p:3
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    References listed on IDEAS

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