Britain has a growth problem. This is not unique. The fitted trend growth of UK GDP per head between 2008 and 2023 was a miserable 0.7 per cent a year. But trend growth was still lower in France and Italy. Even in the US growth of GDP per head was only 1.5 per cent. For a host of reasons, including rising dependency ratios, adverse shocks and weak productivity trends, economic growth has tended to be feeble in the UK’s peer countries. This strongly suggests that raising growth sharply in the UK will be hard.
英國面臨成長問題。這並非獨有現象。2008年至2023年間，英國人均國內生產毛額(GDP)的擬合趨勢成長率僅爲每年0.7%，令人沮喪。但法國和義大利的趨勢成長率更低。即使在美國，人均國內生產毛額的成長也只有1.5%。由於多種原因，包括撫養比上升、不利衝擊和生產率趨勢疲軟，英國的同類國家的經濟成長往往疲軟。這強烈表明，要在英國大幅提高成長將是困難的。
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