Announcing the launch of their Economy 2030 Inquiry, the two organisations said muddling through without a proper plan would be disastrous for the living standards of individuals and the economy as a whole. The launch report noted that Italy had suffered two decades of flatlining living standards, and in the absence of a comprehensive strategy for economic renewal, there was a risk the UK could face similar relative decline. Without improvement, is authors wrote, Britain would have per capita incomes closer to Italy than Germany by the decade’s end. Minouche Shafik, director of the LSE and co-chair of the inquiry, said: “The decade ahead will be decisive for the UK. We need to rethink our economic strategy to rise to these challenges and ensure that we create a society in which everyone can thrive.”

Source: The Guardian May 17, 2021 22:52 UTC