PARLIAMENTARY WRITTEN QUESTION
National Income (11 November 2024)

The UK economy has flatlined in recent years and GDP per capita remains lower than pre-pandemic levels. Consistently low productivity (GDP per hour) growth since 2010 has been the key driver behind the UK’s weaker economic performance over that period. This has undermined living standards and contributed to the challenging fiscal position.

At the recent Budget, the Chancellor set out plans to address this challenge, and deliver on the mission to grow the economy, by restoring economic stability and increasing investment. This is part of the government’s commitment to deliver a decade of national renewal by fixing the foundations of the economy and rebuilding Britain, making every part of the country better off.