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in the past 13 years the UK has seen an unprecedented stagnation in real incomes with many people becoming worse off if pre-crisis growth had been maintained real incomes would be around seven thousand Pounds higher whilst Global factors like covid and the Ukraine war are mitigating factors to some extent the UK economy has still performed relatively badly compared to other countries it has one of the poorest records of real-wage growth since 2016 business investment has been severely hit which will limit future growth and recently the IMF forecast but in 2023 the UK would have a lower growth rate than even Russia given the record plunged in consumer confidence its not surprising the bank of England forecast a prolonged recession oecd stats highlight how average household incomes in the UK are around 9 000 pounds lower than an average of five similar countries Australia Canada Germany France and Netherlands theyre all similar countries but the UK economy has been left behind and is
