While Economic Challenges Escalate, Britain Risks Italy-style Fall
May 18, 2021, 7:07 am

While Economic Challenges Escalate, Britain Risks Italy-style Fall

By Reuters Staff

A think-tank said on Tuesday that: "Britain faces a decade of major public policy challenges that could decrease economic performance to nearer that of struggling Italy than Germany, Europe’s powerhouse."

The Resolution Foundation said the UK had to address problems related to Brexit on top of those faced by other countries including the effect of COVID-19, the transition to a net-zero carbon economy, an ageing population and technological change.

It said that: "Without good plans, Britain risked failing to address the slowest productivity growth for over 120 years in the past ten years and higher inequality than any country in the EU except Bulgaria."

Clive Cowdrey, founder of the Resolution Foundation, said that: “Britain's latest record of weak productivity, fragile living standards and high inequality makes a new economic approach desirable."

"What makes a new approach essential is the scale of coming change.”

PM Johnson has guaranteed to “level up” Britain’s economy by focusing on investment and jobs to regions that lag behind London and zones around the capital. He moreover spaeks of a “Global Britain” after its exit from the EU.

However the Resolution Foundation said that: "Britain lacked a plan to realize these goals over the following decade and that the nation gambled wasting economic strengths such as high levels of employment, which were presently at chance from increased automation.

While it launched an inquiry jointly with the Centre for Economic Performance at the London School of Financial matters, the Resolution Foundation said: "Italy had seen no growth in gross domestic product per capita over the past twenty years whereas Britain recently fell further behind Germany."

The think-tank said: “If the UK’s pace of underperformance relative to Germany continues at the same pace in the 2020s, then it will end this decade with GDP per capita much closer to that of Italy than Germany."

The inquiry is financed by the Nuffield Foundation, a charity that funds research for social policy.

Source: Reuters

Theaters of London Open again to Live Audiences The UK’s Final Unlocking?

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”