UK could be fastest-growing G7 economy over next three decades

worldtraveller

Britain will grow faster than any other major advanced economy over the next three decades as the EU’s share of global output diminishes, according to PwC.

UK economic growth is predicted to outpace the US, Canada, France and Germany between 2016 and 2050, with average annual growth of 1.9pc.

This is also double the average annual pace of growth expected in Japan and Italy.

While the UK’s decision to leave the EU is expected to exert “some medium-term drag” on the economy, PwC signalled that Britain was in prime position to forge new trade ties with “faster-growing emerging economies”, which are expected to cement their status as the engines of global growth.

Telegraph.co.uk

Carl31

they've changed their tune, this time last year their post Brexit scenarios all indicated lower GDP in coming years

I suppose that was before the vote though

Conrad

I apologise for voting for this bleak future we face

stator

The only accurate prediction is that all predictions will be wrong.

davomcdave

It takes a brave person to predict where GDP will be in 33 years time!

I'm sure PwC has a cast iron methodology and all that but seriously, 2050!? Will London be flooded by then? California a desert? Canada could be growing crops on the tundra. Southern France and Italy could be suffering Australian-style bush fire and all that's just possible global warming impacts.

Japan's economy could be wallowing as a result of the aging/dying population or booming as a result of the unprecidented automation forced upon them as a result.


It's a bit silly.

MacMickster

Economic forecasting is rather like forecasting the weather for the next few weeks by studying seaweed on the beach.

I was extremely sceptical of all of the armageddon forecasts prior to the Brexit vote. I am equally sceptical of a forecast of good weather for the next 33 years.

prosaver

worldtraveller wrote: »

Britain will grow faster than any other major advanced economy over the next three decades as the EU’s share of global output diminishes, according to PwC.

UK economic growth is predicted to outpace the US, Canada, France and Germany between 2016 and 2050, with average annual growth of 1.9pc.

This is also double the average annual pace of growth expected in Japan and Italy.

While the UK’s decision to leave the EU is expected to exert “some medium-term drag” on the economy, PwC signalled that Britain was in prime position to forge new trade ties with “faster-growing emerging economies”, which are expected to cement their status as the engines of global growth.

Telegraph.co.uk

a Brexiteer hearing the news...

now a Remainer....hearing the good news
:D

yep .:D