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The very important economic problem for the UK is faced is the long-term stagnation of productivity. This topic was Column two weeks ago. Yes, this moment may not be ignored. But urgently not necessarily important. Prohibition of a disaster (world war or global depression, for example, the main definition of our well-being and our stability will be accepted by the country – in the country. The economy must be reduced in almost two decades.
This does not claim that Donald Trump’s war in the open world economy is insignificant. How can it be? He raises a large and unexpected obstacle for global trade, but also creates smart predecessors who destroy institutional architecture in eight decades. Nevertheless, it is not possible to have the end of the economic world for England.
According to the office of national statistics, the United Kingdom exported a $ 59 billion worth of goods to the United States in 2024. 27% of the total exports of £ 137 billion services were more important to the United States. The United States emphasizes the details of the British exports. The category of services with the largest export to the United States was “other business services”. These were £ 61 billion in 2024, which was 33 percent of all exports of other business services. Beauty, the export of other business services in the United States was more than all the goods. The largest category of cargo exports to the United States was machinery, car equipment, 29 billion pounds of modest. Moreover, only 19 percent of exports in this category went to the United States.
This is a good position to be inside the UK. This feels the Maga fanatics, “real men” do not do: steel or mine coal. Moreover, tariffs cannot apply to services.
It is more difficult to analyze the indirect effects of Trump’s policy, which is both economically and wider. Like Megan Greene The uncertainties mentioned in April 25 increase in all directions. Of course, it is difficult to see an opportunity to work in the UK and the highest levels of law to work in a country that complies with the idea of the rule of law.
The main influence of Trump shock is that good politics is more important: always in difficult times. In general, the goal is to increase the financial position and financial system, increasing the comfort of the economy, and increase human, physical and intangible capital – public and private investment.
Unfortunately, there is no way that consumption in a country with slow fertility growth and large current account deficit. This is a fact that no government does not want to face. But According to the IMFThe average deposit rate of 2021 and 2024 of England was 15.6 percent of GDP, 37 of 37 of 37 in 37, 35.6 percent in front of Cyprus and Greece. If the low investment of England is to do so, it should rise.
However, the ability to make a higher investment stock is a necessary condition of growth faster. There should be opportunities to invest. Some of them will be prepared with a relevant regulation as planning control and more absurd environmental restrictions and extraction convenience of employment. But others will require effort. In particular, the growth means a change and therefore requires innovation. This is a risky and expensive process with many positive externalities: a successful new activity will almost always share the benefits of pioneering with others.
Therefore, there is a voice case for government support for innovation. The question is how to do it. A former conservative minister David Willetts, just published a short pamphpet for the foundation of the resolution “How to do industrial strategy“Exploring opportunities, the cost of failure to take the risks of failure, it is very clear. There will be many failures.
The big point I looked at home for a while, the more dangerous and worse of the world, the worse of the world, the worse of economic performance, the United Kingdom reflexive protection is damaged. Fortune becomes brave.
