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UK Faces Declining Living Standards
(MENAFN) Persistent inflation and sluggish growth are expected to worsen the erosion of living standards in the United Kingdom, leaving the nation trailing behind its economic counterparts, according to the Centre for Economics and Business Research (CEBR).
In its annual World Economic League Table published on Friday, the think tank projected that Britain will drop from 19th to 22nd place in global GDP per capita rankings by 2030, surpassed by Hong Kong, Finland, and the UAE. By 2035, British living standards are anticipated to fall below those of Malta, a former colony.
Measured in US dollars, the UK’s GDP per capita is forecast to reach $58,775 next year. Over the next five years, Britain’s GDP per capita growth is expected to be the second weakest among G7 nations, ahead only of Japan.
CEBR economist Pushpin Singh described the UK’s predicament as a “triple challenge” of elevated inflation, mounting debt, and weak growth. He cautioned that the country’s competitiveness is being undermined by rivals with lower taxation and lighter regulation, while an “inability to shrink state spending” continues to weigh on the economy.
The report also highlighted that 2025 marked the Labour government’s first full year in power. “Having been elected on a platform to boost growth, only very limited success has been achieved,” it stated, noting that the economy expanded by just 1.4% in 2025 and is projected to average around 1.5% annually in the coming years.
In its annual World Economic League Table published on Friday, the think tank projected that Britain will drop from 19th to 22nd place in global GDP per capita rankings by 2030, surpassed by Hong Kong, Finland, and the UAE. By 2035, British living standards are anticipated to fall below those of Malta, a former colony.
Measured in US dollars, the UK’s GDP per capita is forecast to reach $58,775 next year. Over the next five years, Britain’s GDP per capita growth is expected to be the second weakest among G7 nations, ahead only of Japan.
CEBR economist Pushpin Singh described the UK’s predicament as a “triple challenge” of elevated inflation, mounting debt, and weak growth. He cautioned that the country’s competitiveness is being undermined by rivals with lower taxation and lighter regulation, while an “inability to shrink state spending” continues to weigh on the economy.
The report also highlighted that 2025 marked the Labour government’s first full year in power. “Having been elected on a platform to boost growth, only very limited success has been achieved,” it stated, noting that the economy expanded by just 1.4% in 2025 and is projected to average around 1.5% annually in the coming years.
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