emerty

GDP growth was similar in the twentieth century and the nineteenth, averaging 2.1 per cent in both cases. Higher productivity growth in the twentieth century therefore is associated with weaker growth of total hours worked, due to a combination of weaker employment growth and falling average hours

You don't understand your own link, 🤡

Yeah, sounds unlikely doesn't it?

But that's what the forecast says. 4% of productivity lost over the long term of 15 years due to loss of comparative advantage

https://obr.uk/forecasts-in-depth/the-economy-forecast/brexit-analysis

But the forecast is for the cost, no benefit is included.

The loss of comparative advantage is replaced, I'd argue, with competitive advantage which has a much stronger effect. The UK is no longer bound by the anti science regulations on genetic engineering and the new overly restrictive proposed regulations on AI

GDP per capita is a ratio of GDP / population, so if you do more with fewer people, by using automation, robots and AI, your GDP per capita will grow...

The 4% figure over 15 years is a difference of 0.29% to 0.27% productivity growth. Government policy has at least that 0.02% effect

I predict a Starmer govt will be able to introduce policy that will offset the productivity loss just by investing in renewable energy, let alone any research universities' innovations.

I stand corrected, I thought they used core CPI

Economists said most of the reason for the divergence between the UK and the EU was down to the UK government’s energy price guarantee (EPG), which has capped the cost of gas and electricity bills to the equivalent of £2,500 a year for a typical household until July. In the eurozone there have not been similar caps fixing the price over a lengthy time period, meaning their inflation rates better reflect the recent global decline in wholesale gas and electricity prices.

Did you even read the article?

Economists said most of the reason for the divergence between the UK and the EU was down to the UK government’s energy price guarantee (EPG), which has capped the cost of gas and electricity bills to the equivalent of £2,500 a year for a typical household until July. In the eurozone there have not been similar caps fixing the price over a lengthy time period, meaning their inflation rates better reflect the recent global decline in wholesale gas and electricity prices.

Lol, no they're not. Productivity is not GDP...

And the 4% is over 15 years and is a result of loss of comparative advantage.

If you have to compound an effect over 15 years to get 4%, the effect is fuck all.

🤡

The Dunning-Kruger effect effect occurs when a person's lack of knowledge and skills in a certain area cause them to overestimate their own competence

That's you that is

Fucking hell,

GDP is one thing

Gross domestic product is a monetary measure of the market value of all the final goods and services produced in a specific time period by a country or countries.

GDP per capita is a measure of productivity and living standards

What Is GDP Per Capita? Gross domestic product (GDP) per capita is an economic metric that breaks down a country's economic output per person. Economists use GDP per capita to determine how prosperous countries are based on their economic growth GDP per capita is calculated by dividing the GDP of a nation by its population. Countries with the higher GDP per capita tend to be those that are industrial, developed countries

Once you've worked that out, tell me what the loss of productivity that the OBR is forecasting is down to.

Hint, it's comparative advantage. When you've learned what that is, let me know.

Lol, smashing. You haven't got a clue pal.

There you go again, defending failure

I didn't vote for those idiots, moron.

LOL

Fuck off and learn something before you give it large pal.

The post-Brexit trading relationship between the UK and EU, as set out in the ‘Trade and Cooperation Agreement’ (TCA) that came into effect on 1 January 2021, will reduce long-run productivity by 4 per cent relative to remaining in the EU

Productivity, as in GDP per capita. Not GDP.

https://obr.uk/forecasts-in-depth/the-economy-forecast/brexit-analysis/#assumptions

The 2% target inflation is core or not?