As I was saying...18 Jun 2024 08:23
Morning Bros
Article today it says...
"Investment in the UK has trailed other G7 countries including the US and Germany since the mid-1990s, according to a report that urges Labour and the Conservatives to reverse planned cuts to investment or risk long-term damage to economic growth.
The Institute for Public Policy Research (IPPR) thinktank found the UK was bottom of the G7 league for investment in 24 out of the last 30 years, using figures from the Organisation for Economic Co-operation and Development (OECD).
A lack of spending by UK companies on technology and innovation over the last three decades was mostly to blame for the underperformance, the OECD figures show, while public sector investment has also ranked below the G7 average.
The IPPR said latest comparable data for 2022 showed investment by private companies was lower in the UK than any other G7 country for the third year in a row. The analysis also showed the UK ranked 28th for business investment out of 31 OECD countries with Slovenia, Latvia and Hungary attracting higher levels in relation to the size of their economies.
Private investment includes spending in factories, plant and equipment, and technology. The G7 comprises the UK, US, France, Germany, Italy, Japan and Canada, while the OECD has 38 member countries.
A lack of investment is widely blamed for the UK’s poor productivity record and low levels of economic growth".
So reform it says raise tax thresholds to £20K.. To me that figure seem about right. As we is even the minimum wage gets taxed..
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