UK In Recession with Worst Growth Since 2009 as Public Investment Lags

The UK is in recession with two successive quarters of economic contraction in 2023. Growth was just 0.1% last year - the worst since 2009.

The UK's poor economic performance stands out internationally, similar only to Germany, which is also rigidly committed to austerity.

Public investment in the UK has been below average for decades, costing £208 billion worth of missed investment as per the IPPR.

The lack of investment is exacerbating inequality, compromising climate action, and hurting productivity and growth. Investing in green infrastructure could create jobs and boost the economy.

Labour under Starmer has abandoned meaningful investment pledges, zealously committing to 'balancing the books' like Germany. This could fuel further discontent and support for fringe or far-right groups when the economy continues to struggle.