This report sets out policies which we believe will return the economy to a respectable pace of economic growth and permit GDP per capita to rise, meaning that the gap between the UK and US levels of GDP per capita will fall from the current 64% to 35% by 2045. In this budget we describe the policy changes which we believe will be necessary to transform the economy and generate faster economic growth in per capita terms.
This is the first Growth Commission Budget where we put forward carefully costed proposals as an alternative approach for the Autumn Statement to be held on 22 November 2023. The report is built on modelling approaches which take into account behavioural changes likely to result from the policy changes and look explicitly at the likely impact on GDP per capita over the longer term up to 20 years.
Economists warn new definition of ‘growth’ could derail economic renewal GDP per capita measurement must remain the clear objective for regulators in meeting their duty to support economic growth, the Growth Commission has urged. Responding to a recent Government consultation which seeks to modify the definitions of the term ‘growth’ in the context of the […]
Report uncovers a £143bn regulatory burden on businesses New reports published by the Growth Commission lay bare the staggering true cost of Government regulation to businesses well in excess of the Government’s original assessment of £14.3bn. According to the report, costs on businesses from regulations imposed since 2015, could have a negative regulatory impact of […]
Report uncovers a £143bn regulatory burden on businesses New reports published by the Growth Commission lay bare the staggering true cost of Government regulation to businesses well in excess of the Government’s original assessment of £14.3bn. According to the report, The Impact of Regulation on Economic Growth, costs on businesses from regulations imposed since 2015, […]
The UK and other developed economies are experiencing crises of economic growth which have been building in recent decades, and which threaten to undermine the progress made on quality of life for millions over the past century. The best way of comparing economic growth between different countries is to look at GDP per capita and […]