Mik

Recent UK economic history being rewritten to suit current political agendas. So let’s set out some facts. Britain’s real GDP grew by 18.7% from the end of 2010 (Q4 2010) to the end of 2019 (Q4 2019). In other words the UK economy grew by almost a fifth in real terms in the 2010-2020 decade, despite the shock of the Great Crash and Brexit and dysfunctional Tory governments. That somewhat undermines the widely promoted myth of a stagnant decade. From the start of 2020 (Q1 2020) to the start of 2025 (Q1 2025), real GDP grew by 7.0%. So in the past five years the economy has grown markedly more slowly than previous decade. Covid obviously took its toll, including anaemic bounce back from the pandemic doldrums of 2020/21. Brexit uncertainty too. Plus endless Tory shenanigans hardly encouraged confidence. Even so — and despite all that — the UK economy still 7% bigger now than at start of decade. I know, I know. Per capita GDP growth rate less impressive. That’s partly a consequence of mass immigration and low productivity. The purpose of this post is to counter the widespread perception that the UK has endured a decade and a half of stagnation in GDP growth. It hasn’t.