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Could we really be the richest country by the 2030s?

In an ideal world, the sky is the limit for our economy, but the world we live in isn't ideal

By George Magnus  

George Osborne has won trust by moving to the centre ground © PA/PA Wire/Press Association Images

In a rousing speech to the Royal Economics Society, George Osborne has said that he thinks that the UK could be the richest country in the G7 by the 2030s, as measured by income per head. Is the Chancellor sharing new-found optimism, or is he just cheerleading?

Let’s begin at the beginning. According to IMF data for 2014, UK income per head was $44,000;…

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