{"id":69787,"date":"2023-05-12T08:32:03","date_gmt":"2023-05-12T07:32:03","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=69787"},"modified":"2023-05-12T08:32:03","modified_gmt":"2023-05-12T07:32:03","slug":"gdp-per-head-is-going-nowhere-fast-another-of-rishis-promises-is-biting-the-dust","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2023\/05\/12\/gdp-per-head-is-going-nowhere-fast-another-of-rishis-promises-is-biting-the-dust\/","title":{"rendered":"GDP per head is going nowhere, fast. Another of Rishi\u2019s promises is biting the dust"},"content":{"rendered":"<p>I don\u2019t think GDP growth is important, per se. I think the growth in well-being is, and they are not the same thing.<\/p>\n<p>But the government does think GDP matters and so this chart, <a href=\"https:\/\/www.ons.gov.uk\/economy\/grossdomesticproductgdp\/bulletins\/gdpfirstquarterlyestimateuk\/januarytomarch2023?utm_source=POLITICO.EU&amp;utm_campaign=0bbc7bd8b0-EMAIL_CAMPAIGN_2023_05_12_02_54&amp;utm_medium=email&amp;utm_term=0_10959edeb5-0bbc7bd8b0-%5BLIST_EMAIL_ID%5D\" target=\"_blank\" rel=\"noopener noreferrer\">issued by the ONS this morning<\/a>, is not good news for them:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-69788\" src=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1034-349x300.jpeg\" alt=\"\" width=\"349\" height=\"300\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1034-349x300.jpeg 349w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1034-550x473.jpeg 550w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1034-768x660.jpeg 768w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1034-465x400.jpeg 465w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1034.jpeg 1447w\" sizes=\"auto, (max-width: 349px) 100vw, 349px\" \/><\/p>\n<p>UK population is <a href=\"https:\/\/www.macrotrends.net\/countries\/GBR\/united-kingdom\/population\" target=\"_blank\" rel=\"noopener noreferrer\">growing<\/a> by about 0.34% a year right now (which is an historically low rate).<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-69789\" src=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1037-446x300.jpeg\" alt=\"\" width=\"446\" height=\"300\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1037-446x300.jpeg 446w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1037-550x370.jpeg 550w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1037-768x516.jpeg 768w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1037-1536x1033.jpeg 1536w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1037-595x400.jpeg 595w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2023\/05\/IMG_1037.jpeg 1651w\" sizes=\"auto, (max-width: 446px) 100vw, 446px\" \/><\/p>\n<p>So, put the data together and GDP per head is most likely not growing at all.<\/p>\n<p>So much for another of Rishi Sunak\u2019s promises.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I don\u2019t think GDP growth is important, per se. I think the growth in well-being is, and they are not the same thing. But the<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2023\/05\/12\/gdp-per-head-is-going-nowhere-fast-another-of-rishis-promises-is-biting-the-dust\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[96,35],"tags":[],"class_list":["post-69787","post","type-post","status-publish","format-standard","hentry","category-conservatives","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/69787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=69787"}],"version-history":[{"count":2,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/69787\/revisions"}],"predecessor-version":[{"id":69791,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/69787\/revisions\/69791"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=69787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=69787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=69787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}