There’s nothing to celebrate about returning to 2008’s GDP: almost all of us are worse off still

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Before anyone gets excited about GDP returning to 2008 levels (as is likely to be announced tomorrow) can I refer to this table issued by the ONS on 2 July:

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The point is an obvious one: even if the absolute level of GDP has returned to the 2008 level GDP per head has not. It is at no more than 95% of 2008 level. And that means almost everyone in this country is still worse off than they were in 2008. That’s nothing for the government to celebrate.