new Growth Commission has claimed that the average American’s income is a third higher than the average British person’s as a result of stagnant growth in the UK.
It also warns of a relative slowdown of growth among G20 countries, particularly those in western Europe, and says that the UK is one of the few international economies where GDP per capita is falling post-Covid. Douglas McWilliams, an economic consultant and the Growth Commission’s co-chairman, said that low growth had become the “new normal” in many countries including the UK.
“Low growth hits everyone in the pocket. There is no escaping that and governments around the world need to be serious about tackling this issue.”
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