From the magazine

Reversing our economic decline is not easy, but it is simple

We are becoming poorer because we keep choosing to increase spending, taxes and debt, rather than incurring any short-term discomfort, argues Jon Moynihan

Daniel Hannan
Jon Moynihan.  Patricia Underwood
EXPLORE THE ISSUE 15 February 2025
issue 15 February 2025

Our immiseration came swiftly and stealthily. At the start of the 21st century, Britain was a prosperous country. Ambitious people fought to come here. We trusted that, over time, we would become wealthier – an expectation that had been accurate for most of the previous two centuries.

Since the millennium, Britain and western Europe have pretty much stopped growing – especially if...

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