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Nick Kotucha, ESRC Postdoctoral Fellow, University of Warwick

The UK government’s risky rollback of financial regulation threatens long-term growth

The financial crisis of 2008 left deep scars on the British economy. The average UK household is now estimated to be 16% poorer than it would have been had that crisis never occurred.

Given that average annual household income is around £55,200, this suggests each one is losing out to the tune of £8,800 per year.

Globally, it is estimated that around 100 million more people are living in absolute poverty as a direct result of the crisis. Meanwhile, government debt levels around the world increased by a third.

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