New Brief: Has the UK economy been ‘rebalanced’?
This new brief considers the available evidence on whether the UK economy has experienced any significant degree of ‘rebalancing’ since 2010. The need to correct a range of structural imbalances in the British economy has become associated in particular with the Conservative Chancellor of the Exchequer, George Osborne, but has emerged as a rare shared objective in economic policy for all the major political parties. The Brief examines data on imbalances between the financial and manufacturing sectors, Northern and Southern regions, imports and exports, investment and consumption, and debt and saving. In the light of the evidence, it is clear that not only has the rebalancing of the economy not been achieved but that the British economy remains on an unsustainable path, despite the recent recovery.Print page