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From: Denc 🗡
More like France than Singapore Britain faces a fate much worse than France UK economy is turning into a French tribute act – without any of the hits We have huge levels of government spending. We have punitive taxes. The state micro-manages the economy, offering lavish levels of welfare, while constantly racking up more and more debt. True, we don’t have a boulangerie on every corner, and we don’t have riots every weekend – or at least, not yet. But in almost every other way, however, as Indermit Gill, the chief economist of the World Bank, pointed out this week, the British economy has slowly turned into a French tribute act. There is just one catch. While France at least gets results from its sprawling state, the UK seems to get almost nothing. We face a fate far worse than our neighbour on the other side of the Channel – French levels of tax and debt, combined with practically third-world levels of investment and public services. https://www.telegraph.co.uk/business/2024/04/24/britain-faces-a-fate-much-worse-than-france/

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