Where’s our Economic Renaissance?

The Bank of England currently projects that in the medium-term Britain’s economy will be growing at “subdued” rates of about 1 per cent a year. This follows more than a decade before the Covid-19 pandemic when productivity, and many people’s living standards, barely grew. Why has the UK economy been experiencing such a long period of relative stagnation? What, if anything, can be done to change this dynamic? How can people’s prosperity be boosted? The Covid-related economic disruptions are unlikely to change things by themselves, but could they be a catalyst for accelerating economic transformation?