Dr Gerard Lyons on the prospects of the UK economy
In an recent article for The Telegraph, Dr Gerard Lyons, chief economic adviser to Boris Johnson, explained that the message for Britain from the G20 is to prepare for stronger global growth.
Gerard argues that despite uncertainty, he remains positive about what lies ahead for the UK economy. He points out the reason for this uneasiness is that the global economy has faced three paradoxes in recent years:
- The policy paradox – where the policies many countries want to pursue in the long term are not those they have been able to implement in the near term.
- The regulatory paradox – in the wake of the crisis, economies tightened regulations, particularly in the financial sector.
- The balanced economy paradox – the policies each economy may want to pursue in isolation to get back into shape are not necessarily the policies you want all countries to follow at same time, lest demand weakens.
He goes on to say that as confusing this global picture may be, three messages of reason stand out for the UK.
Click here to read what these are.