Reindustrialising the United Kingdom
Think tank: National Institute of Economic and Social Research (NIESR)
Author(s): Various authors
May 3, 2023
This report from UK think tank NIESR looks at the UK’s lagging productivity growth since the 2008-2009 financial crisis.
The UK’s lagging productivity growth since the 2008-2009 Global Financial Crisis, together with a renewed focus on ‘Levelling Up’ to address regional inequalities and rebalance the economy has led to calls for the UK to reindustrialise. This research report, from the National Institute of Economic and Social Research, finds that, whilst there may be a case that manufacturing may have shrunk too far as a proportion of the economy with a negative effect on UK productivity growth, attempting to reindustrialise solely via engineering a large sterling devaluation will, at best, only work in the short run.
