Britons had £10,200 less to spend or save during 2010-2022 compared to 1998-2010 growth rates, equivalent to 15 weeks of average wage or eight months of average rent in England.
UK's weak productivity growth since the 2007/08 financial crisis is a primary culprit for economic decline. Productivity growth in the UK has lagged behind the US, Japan, and Germany, impacting living standards.
Productivity growth in the UK fell behind the pre-2010 trend in most major cities. Lack of improvement in productivity hampers economic growth and living standards across the country.
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