OECD Economic Surveys : United Kingdom 2022 / Organisation for Economic Co-operation and Development.

Format:

Book

Author/Creator:

Organisation for Economic Co-operation and Development, author, issuing body.

Language:

English

Subjects (All):

Economic history.

Economic history--20th century.

Physical Description:

1 online resource

Other Title:

OECD Economic Surveys

Place of Publication:

Paris : Organization for Economic Cooperation & Development, 2022.

Summary:

The UK economy recovered from the COVID-19 shock thanks to emergency support measures protecting jobs and incomes and a rapid vaccine rollout, but is slowing amid persisting supply shortages and rising inflation. Fiscal policy has to balance gradual tightening with providing well-targeted temporary support to households who are vulnerable to rising costs of living, supporting growth and addressing significant investment needs. Accelerating progress towards net zero is fundamental to enhance energy security. The United Kingdom is among world leaders in reducing domestic greenhouse gas emissions, has a strong institutional framework and a broad political consensus supporting the target to reduce net emissions to zero by 2050. Continuing progress towards carbon neutrality requires policy to match ambition. Expanding pricing instruments is an essential building block to reach targets, but can be even more effective if complemented by well-designed sectoral regulation and subsidies, and more acceptable if implemented once energy prices have started to come down from historically high levels. Policy reforms to support economic reallocation, compensation of low-income households and investment in green infrastructure and new technologies can stimulate productivity growth, contribute to reducing disparities across UK regions and increase public support for climate policy

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

92-64-57053-5

92-64-10056-3