IMF forecast highlights “chronic lack of investment” in UK says IPPR

Reacting to today’s IMF’s growth estimates for the UK Carys Roberts, executive director at IPPR, said:

“Today’s figures show that the UK faces another decade of economic stagnation, worsened by chronic lack of investment. This is set to continue as the UK is projected to have the lowest levels of investment in the G7 until the 2030s.

“The IMF also highlight low levels of participation in the labour force in advanced economies. In the UK, record numbers are not working due to sickness – driven by a perma-crisis in the NHS, and poor public health, with low-income people and neighbourhoods suffering most.

“The government should recognise that boosting investment, funding public services and fixing public health is the route to prosperity and a stronger UK economy, rather than a race to the bottom with tax cuts.”

ENDS

Carys Roberts is available for interview

CONTACT

Liam Evans, Senior Digital and Media Officer: 07419 365334 l.evans@ippr.org

NOTES TO EDITORS

1. TABLE 1: Total investment (public and private) as a proportion of GDP. Figures are projections from 2024. (Source: IMF World Economic Outlook, April 2024)