What people don't realise is that we have not hit rock bottom yet.
The UK has a massive dependency problem (ratio of workers to retired and unemployed/disabled/sick)
The last 5 years have turbo-charged that dependency problem due to demographics and larger rate of sickness.
To put it bluntly, the run down problems that people are seeing in the UK vs Europe is caused by a lack of investment going back to 2010.
You might not notice a 5% reduction of healthcare, education, and LA spending in real terms over one year.
But when its 5% compounded over 13 years:
(1 - (0.95)^13) = 49%
That means we invested 51% less than we should have done over the last 13 years.
This is HUGE. If investment was supposed to be £1T, we only invested £500bn. That £500bn reduction caused the infrastructure to start to deteriorate and fall apart.
And we are now headed into a recession over 2024 as the BOE rate rises hit the UK and reduce disposable income and economic activity.
When that happens, capital investment in the UKs infrastructure will be sacrificed again.
The UK has dug itself a massive hole and it will take at least two decades to dig the country out of it.
If you want a good example of the poor levels of capital investment look no further than the water sector.
Do you know by what year we 'might' get better water quality with current 'above average' rate of capital investment?
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And the 'target' for the control of sewage release into our rivers and beaches is the 2050s.
You honestly cannot make it up.
The country is literally covered in sewage and poo, full of potholes, massive amount of food banks, productivity flatlining, serious economic stagflation and people still pretend nothing is wrong.
At a certain point, pitchforks will need to come out into the streets as the apathy is just astonishing.