Context
The MP is concerned about the UK's economic strength following a significant GDP decline compared to other OECD countries. The context includes pre-pandemic growth rates and current forecasts indicating negative growth for 2023.
Question
What recent assessment has been made of the strength of the UK economy, noting that across the 38 countries of the OECD only Spain had a bigger fall in its GDP from pre-pandemic levels than the UK. Can the Minister name any G20 country other than the UK forecast to have negative growth in 2023?
Answer from Simon Clarke
The UK has bounced back so strongly from the pandemic that we had the fastest growth last year, and the International Monetary Fund forecasts the UK will be second-fastest growing economy this year. The IMF also predicts the UK will outpace other G7 economies in 2024-2026 with the fastest growth rates.
Not addressed: The Minister did not name any specific G20 country expected to have negative economic growth besides the UK in 2023, as requested.
How: Bounced Back So Strongly, Proud Of That Achievement
Was this summary accurate? Tell us
How accurate was this summary? (1 = poor, 5 = spot on)