{"id":209462,"date":"2025-10-18T19:25:09","date_gmt":"2025-10-18T19:25:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/209462\/"},"modified":"2025-10-18T19:25:09","modified_gmt":"2025-10-18T19:25:09","slug":"britains-living-standards-will-fall-behind-former-communist-nations-without-major-growth-plan-economists-warn","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/209462\/","title":{"rendered":"Britain\u2019s living standards &#8216;will fall behind former Communist nations&#8217; without major growth plan, economists warn"},"content":{"rendered":"<p>   18 Oct 2025, 09:47 Updated: 10h ago        <\/p>\n<p class=\"_abstract_fr03p_64\">Ministers must refocus public spending on major infrastructure and defence projects to help \u201cturbocharge\u201d growth, experts say.<\/p>\n<p> 18 Oct 2025, 09:47  | Updated: 10h ago <\/p>\n<p>        <img decoding=\"async\" loading=\"lazy\" alt=\"The UK is projected to be overtake by Poland in 2034 if current trends continue.\" class=\"content-image\" data-image-catalogue-id=\"762554\" width=\"660\" height=\"370\" src=\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2025\/10\/762554\"  \/><\/p>\n<p>    The UK is projected to be overtake by Poland in 2034 if current trends continue.<\/p>\n<p>        Picture: <a href=\"https:\/\/www.alamy.com\/stock-photo-warsaw-pol-25789519.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\nAlamy<br \/>\n<\/a><\/p>\n<p class=\"standfirst\">Living standards in Britain are on track to fall behind those of former Communist nations within the next decade unless the government delivers a plan for economic growth, leading economists have warned.<\/p>\n<p class=\"paragraph-text\">The warning comes as the International Monetary Fund predicts Britain will see the slowest growth in living standards across the G7.<\/p>\n<p class=\"paragraph-text\">The UK is projected to be overtaken by Lithuania in 2030 and by Poland in 2034 if current trends continue, according to new analysis in Prosperity Through Growth, co-authored by Lord Matthew Elliott,<\/p>\n<p class=\"paragraph-text\">Researchers found the UK ranked as the world\u2019s 30th richest economy in 2024, once cost of living and inflation were accounted for \u2014 but is forecast to slip to 46th place by 2050.<\/p>\n<p class=\"paragraph-text\">Read More: <a href=\"https:\/\/www.lbc.co.uk\/article\/benefits-bill-reeves-budget-5HjdFZZ_2\/\" rel=\"noopener nofollow\" target=\"_blank\">&#8216;Benefits bill cannot be untouched&#8217; at Budget, Reeves says hinting at more welfare reforms<\/a><\/p>\n<p class=\"paragraph-text\">Read More: <a href=\"https:\/\/www.lbc.co.uk\/article\/housing-targets-cash-isa-5HjdFSx_2\/\" rel=\"noopener nofollow\" target=\"_blank\">Housing targets could be derailed if cash Isa limit cut, warns building society<\/a><\/p>\n<p>        <img decoding=\"async\" loading=\"lazy\" alt=\"The International Monetary Fund predicts Britain will see the slowest growth in living standards across the G7.\" class=\"content-image\" data-image-catalogue-id=\"762555\" width=\"660\" height=\"370\" src=\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2025\/10\/762555\"  \/><\/p>\n<p>    The International Monetary Fund predicts Britain will see the slowest growth in living standards across the G7.<\/p>\n<p>        Picture: <a href=\"https:\/\/www.alamy.com\/stock-photo-man-with-b-242103234.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\nAlamy<br \/>\n<\/a><\/p>\n<p class=\"paragraph-text\">The authors of the report say ministers must refocus public spending on major infrastructure and defence projects to help \u201cturbocharge\u201d growth, The Sun reports.<\/p>\n<p class=\"paragraph-text\">Former Prime Minister David Cameron said: \u201cWe\u2019re in a situation of genteel decline \u2013 people just putting up with 1 per cent growth. <\/p>\n<p class=\"paragraph-text\">&#8220;We\u2019re effectively getting poorer, but we\u2019re pretending we aren\u2019t, and we need to convince people it doesn\u2019t have to be that way. <\/p>\n<p class=\"paragraph-text\">&#8220;But we need to convince people we\u2019ve got a very clear plan.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"18 Oct 2025, 09:47 Updated: 10h ago Ministers must refocus public spending on major infrastructure and defence projects&hellip;\n","protected":false},"author":2,"featured_media":209463,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":{"0":"post-209462","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom","12":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/209462","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=209462"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/209462\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/209463"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=209462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=209462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=209462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}