Brentwoodian 2022

At a time of economic and political uncertainty, the debate around growth is more relevant than ever. Though the Russo-Ukrainian war plays a role, most economists argue monetary policy in the wake and aftermath of the COVID-19 pandemic has been the main contributor towards the inflation rate. This is why the government’s monetary stance is a crucial factor in the livelihood of the UK. The argument for growth usually follows that increased business creates more jobs, which grow the economy and ensure a higher living standard. Therefore, to promote business, there should be corporate tax cuts, deregulation, and sometimes borrowing, which all grow the economy. Simply implementing public schemes only stagnates the economy, like the 1950s and 60s issue of juggling a stopgo economy, so the best approach for the UK’s future is to prioritise growth. If the UK wants to keep up with other countries the government needs to be growth-focused. There is no point attempting to make global change if the UK isn’t an economy that other nations respect. India overtook the UK’s GDP late last year, pushing this country out of the global top five. Additionally, based on IMF forecasts, Poland is on track to overtake the UK’s economy in 12 years. The state of the UK is in decline, and the best way to tackle Should the UK Government’s Main Prioritybe Growth? 27