"Britain's Stagnant Economy: The Need for Reform and Active Investment Amid Recession Risks"
Britain's economy is facing significant challenges due to a tenfold increase in applications to connect to the electricity grid, resulting in waits of up to 15 years, and local planning authorities that can block new construction for years. The semiconductor start-up Paragraf exemplifies the struggle, facing a £1 million cost to upgrade their power supply due to grid underinvestment. To reignite economic growth, analysts and lawmakers are advocating for accelerated electrical grid upgrades and easier planning approval for new construction. The government has announced measures to speed up planning approval and improve grid connection processes, but experts urge for more decisive action to meet investment needs and carbon emission reduction targets.
- Britain's Economy Is 'Not Working.' Here Are 2 Key Reasons. The New York Times
- Britain is stuck in a doom loop: the system is rigged against growth. That needs to change The Guardian
- The Observer view on Tory economic policy: only active public investment will cure Britain’s ills The Guardian
- UK economy, Brexit failures of Tories as recession threatens HeraldScotland
- The key economic graphs that define 2023 More Radio
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