It is also pleagued with high taxes, something the tory party did nothing to address. And labour seems to think the solution is more taxes, and oh surprise, this hurts the economy further.
I'm wildly interested what's your (and hn community's in general) proposed macro policy mix. When accounted for workforce changes (demography+participation), there was absolutely no economic growth in all developed EU economies (+UK) since the GFC. Zero productivity growth.
That's stark difference compared to US. Did Europe over-auster when US massively increased it's debt? But , as above-mentioned example shows, fiscal expansion can be challenging…
