Re:UK: Food inflation rises to 18.2% as it hits highest rate...
by skippyboxedhero on Friday March 24, 2023 @12:29PM
(#35291468)
This isn't the case. The stuff you read about this is just ludicrously inaccurate.
One, UK is growing at about the same rate as other developed economies. This is quite remarkable because, if you look at Europe, 100% of these countries have significantly higher unemployment.
Two, productivity growth has slowed everywhere after 2007. The UK is comparable to Western Europe, slower than Germany, faster than Italy, it depends heavily on what start and end date you pick. This isn't particularly surprising given that we essentially outlawed the most productive sector of our economy after 2007.
Three, the UK had no financial boom in the 2010s, the US did, and the EU did...let's just wait until the debt has to be repaid to see the full score on whether that has worked out economically.
Re:UK: Food inflation rises to 18.2% as it hits highest rate...
by 10xDev on Friday March 24, 2023 @12:05PM
(#35291041)
The culture in the UK is to live for the weekend. Weekend consisting of getting drunk and watching football. A lot of the people carrying it both in blue collar and white collar jobs are foreigners. Even when it comes to academics, go to any top university and you will forget you are in the UK.
Re:UK: Food inflation rises to 18.2% as it hits highest rate...
by londons_explore on Friday March 24, 2023 @12:06PM
(#35291069)
As well as declining productivity per worker, they are also suffering a declining worker pool as more people are switching to part time, taking early retirement, or are claiming unemployment/disability.
Not quite sure why, but their relative productivity per worker has been dropping since 2007 compared to all other developed nations. [1]
With low productivity, it doesn't matter if you have sweet trade deals - you're still going to decline eventually.
[1]: https://www.bbc.com/news/business-47826195.amp