Deliver a strong economy
Last updated: 12:49pm 12 November 2019
Conservative Party Manifesto 2017, p.12
A strong economy built on sound public finances, low taxes, better regulation and free trade deals with markets around the world.
For many people the state of the economy is at the top of the list of important political issues, so we really want to get this right. But this is a big one. In fact, we basically have to hold our hands up and acknowledge that it’s too big and complex for us at Policy Tracker to condense down into a short 250-word verdict. To give you a credible assessment, we need to be collating expert opinion from the organisation who are internationally recognised in this field.
That said, it didn’t stop us putting in a huge amount of research and analysis to be able to offer this initial status, and you can read the full report in this longer post. Our initial judgement is that, going on information from the Office for National Statistics and on International Monetary Fund data, the UK economy is currently what economists like to call “lukewarm”. It’s neither strong nor weak – it’s doing OK.
Based on that, we’re calling this policy ‘in progress’. Even though this government’s term of office has now ended, we’ll still be looking for opinion from bigger research organisations when data comes out covering the period up to December 2019. Follow this policy to get updates.
Sound links for a healthier economic understanding:
- Is the UK the world’s 5th or 9th largest economy? – Full Fact
- What is the UK’s GDP? – BBC
- List of countries by GDP (nominal) – Wikipedia
- List of countries by GDP (PPP) – Wikipedia
- World Economic Outlook, October 2019 – International Monetary Fund
- GDP monthly estimate, UK:August 2019 – Office for National Statistics
- Fundamentals of the UK economy are strong, Javid says after second-quater contraction – Reuters
- Average weekly earnings in Great Britian: October 2019 – Office for National Statistics
- Labour market overview, UK: October 2019 – Office for National Statistics
- Fact check: Will the UK economy do better than Germany, Italy and Japan in 2019? – Channel 4
- Global Revenue Statistics Database – OECD
- Policy Measures database – Office for Budget Responsibility
- Is a strong economy generally accompanied by a strong currency? – Economics Help
- Real GDP per Capita – Economics Help
- What is the difference between current and constant prices? – Economics Help
- Tax by Tax spend. – Office for Budget Responsibility
- Spending round 2019 – Gov.uk
- Boris Johnson promises tax cuts – The Guardian
- This is not the time for tax cuts or spending increases -Institute for Fiscal Studies
- Better Regulation annual report 2017-2018 – Gov.uk
- Better Regulation in Europe: the United Kingdom – OECD
- Brexit: What trade deals has the UK done so far? – BBC
- Public sector finances: September 2019 – Office for National Statistics
- Government finances weaker than expected in July – BBC
- HMRC tax receipts and National Insurance contributions for the UK – Gov.uk
There's always room for debate
We’re serious about providing clear, up-to-date, non-partisan information. We focus on being consistent and fair in how we reach our verdicts, and always explain our reasoning. But there is always room for debate. So if you see it differently, we’d love you to tell us why. Or even better, submit an edit.