UK has highest GDP per capita rise in G7 since 1997

Green Politics

Britain had the highest per-capita rise in GDP in the G7 since Labour came to power. But critics are calling for an end to "unsustainable" growth.

As the economy emerged from recession, figures from the IMF – including data for 2009 – show that since 1997, Britain has had the highest per-capita rise in GDP in the G7. But critics are calling for an end to “unsustainable” growth.

As the chart below shows, Britain’s GDP per per capita rose 21 per cent since 1997, with GDP overall rising 28 per cent, behind only Canada (35 per cent) and the US (31 per cent).

The growth in GDP was responsible for creating millions of jobs, providing a better standard of living for a decade, and mending the broken public services infrastructure. Although some, including James Purnell, have pointed out that, “GDP had been artificially inflated by the housing and financial bubble.”

A new campaign by the New Economic Foundation is arguing that “indefinite global economic growth is unsustainable” while campaign group 38 degrees are calling for an end to the “fixation” with economic growth.

A new website and YouTube video, The Impossible Hamster, has been set up to promote the campaign.

Watch it:

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23 Responses to “UK has highest GDP per capita rise in G7 since 1997”

  1. jaqi

    RT @leftfootfwd: Despite the recession, UK has highest GDP per capita since 1997 but critics call for an end to "unsustainable growth" http://bit.ly/6nbyIm

  2. Tim Connor

    Oh, right, so everything’s okay then, is it? I hadn’t realised. We’ve had fewer war dead over the last six years than in 1939-45, too. We should be more grateful.

  3. NorthernJohn

    Will – that’s easy when you borrow. My neighbour’s standard of living has increased faster than mine in the last couple of years. He bought himself two new cars, a top-notch laptop, a conservatory, and a flat screen TV. Does he work harder than me? No. Does he earn more than me? No. He did it all with credit cards and personal loans.

    In just the same way, our ‘boom’ was fuelled by excessive borrowing, including Labour government borrowing of nearly FORTY BILLION POUNDS PER YEAR at the TOP of the economic cycle. Total madness and this lot have a lot to answer for.

  4. nef

    RT @leftfootfwd Critics call for an end to "unsustainable growth" http://bit.ly/6nbyIm

  5. Sarah Jane Allison

    RT @theneweconomics: RT @leftfootfwd Critics call for an end to "unsustainable growth" http://bit.ly/6nbyIm

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