IPPR responds to GDP estimates

From: Think Tanks
Published: Mon Feb 13 2023

The UK's leading progressive thinktank, IPPR, has responded to new ONS figures which estimate quarterly GDP growth of zero per cent between October and December last year.

Dr George Dibb, head of the centre for economic justice at IPPR, said:

Unlike other countries that have returned to post-pandemic growth, the British economy is stagnating, and it will be the living standards of ordinary families that suffer.

The government is merely tinkering around the edges, but unless the root of the problem is fixed, we are unlikely to see meaningful growth anytime soon.

Businesses are crying out for a genuine industrial strategy and for government to unlock green investment. Cuts to capital expenditure and public investment risk a doom loop' of poor growth.

GDP first quarterly estimate, UK: October to December 2022

Company: Think Tanks

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