UK Urged to Break Free from Economic 'Doom Loop' of Underinvestment

Lord Mandelson emphasizes the need for the UK to become a high-investment economy to overcome low growth, linking Brexit to current economic challenges.

• Lord Mandelson criticizes the UK's persistent underinvestment, which has left it at the bottom of the G7 for investment levels over the past 30 years.
• A report by the Institute for Public Policy Research highlights that countries like Slovenia, Latvia, and Hungary attract more private sector investment as a percentage of GDP than the UK.
• Mandelson argues that Brexit has imposed significant economic barriers, necessitating a focus on policy areas like industrial strategy, infrastructure, and skilled migration.
• The Labour peer stresses the importance of measuring the value of investment rather than its cost to drive productivity and economic growth.
• Chancellor Rachel Reeves is set to deliver her first budget on October 30, with expectations for policies that promote a high-investment economy.

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