New figures predicting growth for the UK economy have been welcomed by Lichfield’s MP.
The Centre for Economics and Business Research has forecast that the country’s economy will become 10.2% larger than France by 2033, rising to 19.9% by 2038.
Sir Michael Fabricant, Conservative MP for Lichfield, said the future was looking bright.
“Looking ahead, these forecasts predict Britain will keep its lead as being the fifth or sixth largest economy in the world with an increasing gap ahead of other European countries.
“This augurs well for people living in Lichfield District and the rest of the West Midlands who will see their own personal incomes and standard of living rise over the coming years as the world recovers from war and the Covid epidemic.
“Meanwhile, the UK will become a net exporter of energy early in the 2030s which will help boost our balance of trade.
“But as we enter 2024, I know that things are still tough and with the European Union and its biggest economy, Germany, already in deep recession. I know this will be a difficult time for some manufacturers until continental Europe’s own economy begins to recover. This is expected in the latter half of next year.”
Sir Michael Fabricant MP
