After years of insufficient investment and sagging productivity in the UK, the Labour Party recognizes that achieving high-quality growth will require a comprehensive policy approach that builds on many intermediate objectives. But devising a strategy is only the first step; the real challenge lies in implementation.
CAMBRIDGE – As in many other developed countries lately, the two major political parties in the United Kingdom have embraced economic growth as their top policy priority. Following the volatile 49-day experience of Liz Truss’s government and its “dash for growth” in 2022, however, both parties emphasize that there are no financial shortcuts. The focus, instead, is on devising measures to boost productivity, resource allocation, and growth over the long term. In this respect, the opposition Labour Party is ahead of the ruling Conservatives, though both are still working out the details of actual implementation.
CAMBRIDGE – As in many other developed countries lately, the two major political parties in the United Kingdom have embraced economic growth as their top policy priority. Following the volatile 49-day experience of Liz Truss’s government and its “dash for growth” in 2022, however, both parties emphasize that there are no financial shortcuts. The focus, instead, is on devising measures to boost productivity, resource allocation, and growth over the long term. In this respect, the opposition Labour Party is ahead of the ruling Conservatives, though both are still working out the details of actual implementation.