Britain Should Stop Pretending It’s a Rich Country

[andhra_jp]

The most important thing to grasp about Britain is that it is nowhere near as rich as it thinks it is.

A handful of elite universities and companies keep Britain on the cutting-edge of new technologies such as AI and vaccines.
The wealth is highly concentrated in the much-visited southeast.

But look outside this golden world and you discover a different picture.
Real household income hasn’t increased for the past 15 years.
The average UK household is 20% poorer than its peers in northwestern Europe.
A survey for the Resolution Foundation in January found that 11% of Britons (the equivalent of 6 million people) hadn’t eaten when hungry because they didn’t have enough money for food.

Britain’s low-growth economy is not only relentlessly reducing the country’s living standards
(on current trends, the average Polish family will be richer than the average British family by the end of the decade).
It is also forcing everyone to pay higher taxes for worse public services:
The great British Middle Class live in a world of petty crime that goes un-investigated let alone punished, over-crowded emergency health services, and ever-lengthening NHS waiting lists.
(Britain has one of the lowest ratios of doctors and hospital beds per patient in the whole of the OECD).

Brexit has clearly done direct economic harm:
The Bank of England has estimated that Brexit reduced investment by 25% during the five years to 2021, largely due to uncertainty.

[HugoStrange]

they shot themselves in the foot with brexit. It will be really hard for any new company to grow due to brexit

[Saloly]

2 hours ago, HugoStrange said:

they shot themselves in the foot with brexit. It will be really hard for any new company to grow due to brexit

How?

[HugoStrange]

30 minutes ago, Saloly said:

How?

its not easy for new companies to grow outside UK and existing companies are facing lot of red tape and burocracy to get materials and labor (both white collor and blue collor) 

[HugoStrange]

34 minutes ago, Saloly said:

How?