Latest Issue

The UK economy: now comes the hard part

Forecasters got it wrong in some respects—but the economy could still take a beating over the coming years

By George Magnus  

Discussing the UK economic outlook in a TV studio interview recently, the economist I was debating turned to me at one point and said “Look, the economy’s fine, you should cheer up.” In one respect, of course, she was right. As the Bank of England’s Chief Economist Andy Haldane acknowledged last week, the pre-referendum warnings from the Bank, Treasury and others about a post-referendum “technical recession” proved to be way off the mark.

In another respect, though, she was, as the Americans say, whistling Dixie. She meant…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect