Great post. Housing is truly the boot on the British economy's neck IMO. Fix housing and infrastructure and growth will return. Failing to do so will just cement the stagnation.
One other factor is the appalling state of the UKs health service. Long waiting lists have prevented many people who could return to work from doing so.
It would also be worth mentioning the huge problems Britain's non-London cities have with transport, and how that destroys a lot of the potential benefits of agglomeration, see https://www.tomforth.co.uk/birminghamisasmallcity/
A stringent urban planning regime and historical dependence on social housing constructed by government and the failure to enable house construction in the private sector all adds up to lack of investment in housing as a component in GNP. This has consequences for labour mobility. Add in the ESG fetish and the determination to invest in unreliable sources of energy, add in supply shock with the reliance on gas, a perfect storm of unfavourable elements killing labour productivity. The elites, who are not uses to getting their hand dirty, poor buggers, cant figure out what its all about.
Great post. Housing is truly the boot on the British economy's neck IMO. Fix housing and infrastructure and growth will return. Failing to do so will just cement the stagnation.
One other factor is the appalling state of the UKs health service. Long waiting lists have prevented many people who could return to work from doing so.
It would also be worth mentioning the huge problems Britain's non-London cities have with transport, and how that destroys a lot of the potential benefits of agglomeration, see https://www.tomforth.co.uk/birminghamisasmallcity/
A stringent urban planning regime and historical dependence on social housing constructed by government and the failure to enable house construction in the private sector all adds up to lack of investment in housing as a component in GNP. This has consequences for labour mobility. Add in the ESG fetish and the determination to invest in unreliable sources of energy, add in supply shock with the reliance on gas, a perfect storm of unfavourable elements killing labour productivity. The elites, who are not uses to getting their hand dirty, poor buggers, cant figure out what its all about.