Thomas McMahon
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Updated 30 Aug 2023
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This is not substantive investment research or a research recommendation, as it does not constitute substantive research or analysis. This material should be considered as general market commentary.

Britain is a country where the serious press will straight line recent economic growth in Poland for the next 20 years, compare it to straight-lined UK growth and decide Poland will be richer than the UK imminently. Commentators will then do colour pieces based on their walks around Bydgoszcz in their leather jackets reporting how you can just feel how Poland is richer, even though the numbers they are discussing are a projection of the state of affairs 20 years’ hence and current numbers show the UK is still much richer (over twice as rich, in fact). Somehow this is all related to the inability of a journalist to buy a five-bedroom house in zone 1. On the right, Britain’s commentators like to claim the poorest states of the US such as Mississippi are richer than the UK, which is an interesting take. Arguably, Britain needs a psychiatrist, not an economist.

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