LONDON- Britain’s opposition Labor Party on Sunday warned the country’s economy could fall behind that of Poland by the end of the decade and eventually Hungary and Romania, citing an analysis of economic output per head based on trend growth since 2010.
The analysis will form the basis of an appeal on Monday by Labor Leader Keir Starmer for voters to back his party at an election expected in 2024 instead of Prime Minister Rishi Sunak’s Conservatives, who have been in power since 2010.
“We need to be frank about the path of decline the Tories (Conservatives) have set our country on. The British people are falling behind while our European neighbors get richer,” Starmer will say according to advance extracts of the speech.
Labor has promised to ensure Britain has the fastest growing economy among the G7 on a sustained basis if it wins power.
Britain’s economy narrowly avoided a recession according to data published earlier this month, but faces a difficult 2023 as the effects of double-digit inflation hit households.
Labor cited the latest available World Bank data showing Gross Domestic Product per capita in Britain at $44,979 in 2021 and $34,915 in Poland. – Reuters
