UK: A Plan for Growth – proposals to improve the UK’s supply-side
The UK badly needs a strategy to improve potential economic growth and for the government to make it a central priority.
What you will learn:
- Specific policies we propose to reverse the deterioration in potential growth include increased public investment, lower childcare costs to lift workforce participation, increased emphasis on STEM subjects in education, reforms to land planning and housing taxes, and better relations and closer trade links with the EU.
- Closer trade with the EU also offers a key advantage in lifting potential output while improving the structural fiscal position and hence increasing the scope for other supply-side measures.
- We also advocate an institutional change, with the creation of an independent supply-side council within government to provide expertise, consistency, and published advice, and to establish a credible path to higher potential growth.
- After the late-2022 spike in gilt yields, it would be risky for the UK to fund supply-side reforms entirely through increased borrowing.
The Impact of HMC Schools on the UK Economy
Oxford Economics undertook a study for HMC, the professional association of school heads, assessing the impact of their schools on the UK economy in 2021, and on the environment in recent years.Find Out More
Regional UK economies in recession in 2023
We expect the UK economy to be in recession in 2023, with GDP forecast to contract by 0.7% in the year as a whole.Find Out More
The impact of independent schools on the UK economy
Oxford Economics undertook a study for the Independent Schools Council (ISC) assessing the impact of independent schools on the UK economy in 2021, and quantifying the associated taxpayer savings.Find Out More
Another UK rate hike is coming, but the peak may be in sight
We expect the MPC to raise Bank Rate at December's meeting. But recent UK developments, including calmer financial markets, a stronger pound, and energy support to households set to become less generous, mean we think the MPC will pivot to a 50bps hike rather than repeat November's 75bps rise.Find Out More