Britain’s economy is in a deep rut. After news confirming the country fell into recession late last year, most experts agree the downturn is likely to be shortlived and shallow. Few, though, are betting on a strong recovery from the toughest period for living standards in almost 70 years.
In most of the economic cycles of the past century, robust growth has typically followed each period of recession, as households and businesses get back on their feet after each setback. But as highlighted by Matt Whittaker of the Pro Bono Economics thinktank, the past two decades have been different. Gross domestic product per capita has either fallen or flatlined for the past seven quarters, and it is now 16 years since the last sustained uptick came to an end.
