The State of the UK Economy 2024

The state of the UK economy is always an important matter, but it is all the more so in what looks likely to be an election year. This UK in a Changing Europe report takes stock of the UK economy in order to assess how it can break from the current economic and political ‘doom loop’. The report provides a constructive framework to address the need for a longer-term, joined up approach in policy areas, ranging from education to immigration, to public services and artificial intelligence. It shows that there is no single silver bullet for the problems facing the UK economy, however a number of themes have emerged. The UK has long been plagued by short-termism and political instability which needs to be addressed. Edited by Senior Fellow Professor Jonathan Portes, it brings together leading UK academics on the economy from universities across the UK, the Migration Observatory, the Institute for Fiscal Studies and other research institutions. Chapters: The UK economy since the global financial crisis by Stephen Hunsaker The current state of the UK economy: a SWOT analysis by Jonathan Portes and Sarah Hall The UK macroeconomic framework at 25 by Ethan Ilzetzki Inequality by Donald Houston Spatial productivity disparities by Henry Overman Tax policy by Arun Advani and Andy Summers Public services by Ben Zaranko Public sector productivity by Patrick Dunleavy Education by Simon Burgess and Sandra McNally The Labour market by Tony Wilson Housing and planning by Christian Hilber Migration by Ben Brindle and Madeleine Sumption Trade by Thomas Sampson Industrial policies and net zero by David Bailey and Phil Tomlinson AI policy by Huw Roberts