Economists See Severe Deterioration in British Economic Policy
Economic experts see a steep decline in the economic situation in the UK compared to the previous quarter. This is a finding of the Economic Experts Survey (EES) – a global quarterly survey conducted by the ifo Institute and the Swiss Economic Policy Institute.
The experts rated economic policy in the UK at -27 points. By contrast, the assessments for Ireland rose by 6 points and for the US by 9 points compared to the previous quarter. Canada was assessed 11 points lower. These assessments deviate from the global average of +0.5 points. “In the UK, experts criticize the government for having no apparent plan. One relevant example is the U-turn in climate and energy policy,” says ifo researcher Niklas Potrafke.
Germany and Austria were assessed at -16 points each on a scale of -100 to +100. Assessments fell in Italy by 21 points and in Spain by only 2 points.
At +4 points, assessments in China were much lower than India’s +34 points. Japan, on the other hand, scored almost as badly as Germany with -13 points.
A total of 1,541 economic experts from 128 countries participated in the survey, which ran from September 26 to October 11, 2023.
