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OECD Economic Surveys: United Kingdom 2024
Paperback
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ISBN10: 9264705791
ISBN13: 9789264705791
Publisher: OECD
Published: Oct 1 2024
Pages: 124
Weight: 0.65
Height: 0.26 Width: 8.25 Depth: 11.00
Language: English
ISBN13: 9789264705791
Publisher: OECD
Published: Oct 1 2024
Pages: 124
Weight: 0.65
Height: 0.26 Width: 8.25 Depth: 11.00
Language: English
Economic growth is resuming, but challenges remain. Gradual fiscal consolidation is required over the short term to support the return of inflation to target and rebuild fiscal space, following substantial support during the pandemic and the energy crisis. Growing spending needs due to ageing and investment necessary to support the green transition call for tax reforms to strengthen revenues. Supply-side reforms are needed to sustain growth, including by providing businesses with certainty regarding taxation and land use planning to boost investment, and by strengthening work incentives to reduce economic inactivity. The United Kingdom is a front runner in the progress to reach net zero by 2050, but more effort is needed to accelerate emission reductions in residential housing, including a clear long-term strategy, pricing signals, regulatory timelines, and financial support to stimulate the market for decarbonised heating solutions.
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