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Originally Posted by norcal2k19
UK's productivity level and GDP per capita growth are lagging compared to the US and the UK's European peers. Brexit is such an unforced error not adding value to these indicators.
Also - the fact that one state's economy (California) is such a juggernaut speaks volumes to the sheer scale of the US economy, especially compared to that of the UK, which is definitely past its Empire glory days.
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The UK Chancellor of the Exchequer, addressed the issue of productivity earlier in the weak in the
Spring Budget Speech in which he reviewed the country's economic performance and investment, and set out longer term economic strategies to encourage growth, investment and productivity, as well as measures to encourage growth.
As for Brexit, it was about more than economics, with Britain not wanting to be part of an increasingly federal Europe, as well as other such issues, and Britain is now free to make trade deals, and has a free trade deal with the EU, which is more than the US has been able to achieve.
As for California, it's a region and not a sovereign country, and as such it relies on the US as a whole, and as already pointed out anyone can decide to make claims regarding a region, for instance the
British Isles has a larger GDP than California, whilst the
European regions, some of which are geographically closer to each other than US regions, have impressive GDP rates.
In terms of the UK, it could do extremely well in terms of both the service and manufacturing sectors by striking up new trade deals, in terms of trans-pacific deals or even a trans-atlantic deal.
Those who go on about Brexit, and especially Americans fail to understand that the only thing the UK has with the EU is a massive trade deficit and that the UK economy is mainly global service industries and often high end specialised manufacturing, with UK agriculture only contributing around 0.5% to the United Kingdom's economy and fishing contributing a further 0.03% to the British economy or the equivalent of less than 1/33rd of 1% of GDP.
As for NI, the Windsor Framework has been negotiated and looks set to be passed by the UK Parliament, whilst in terms of British issues such as national sovereignty or trade deals, they have little or nothing to do with other nations or their citizens.
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Originally Posted by Chancellor's Speech
Today I set out the four pillars of our industrial strategy to address these issues.
Colleagues will know from my Bloomberg speech, they all start with the letter ‘E’: Enterprise, Employment, Education and Everywhere.
Contd.....
I start with ‘Everywhere’, our measures to level up growth across the UK.
Spring Budget 2023 speech - GOV.UK
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