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Solace blog

7th June 2023

MJ Article: We have a major opportunity to turn the economic tide, Graeme McDonald

“It is now more than 30 years since I studied economics in Leeds. Starting less than a fortnight after ‘Black Wednesday’, Nirvana provided a grungy soundtrack to an economy still emerging from recession and inflation over 10%.

Fast forward to the present day and inflation is stubbornly high while the IMF’s latest economic forecast expects the economy to only expand by a meagre 0.4% in 2023.

You don’t require an economics degree to understand that the causes are complex, but if you look at underlying productivity – the key driver of growth, and hence living standards, over the long term – the evidence paints a depressing picture for recovery.”

Click here to read the full article by Graeme McDonald, managing director of Solace, in the MJ.