A moderate recovery is underway in the major advanced economies, according to the OECD’s latest Interim Economic Assessment. Growth is proceeding at encouraging rates in North America, Japan and the UK. The euro area as a whole is out of recession, although output remains weak in a number of countries.
Restoring fiscal sustainability remains a priority. But at the same time the seeds of future growth must be carefully sewn, said Angel Gurría at the launch of the 2013 OECD Economic Survey of the United Kingdom.
Country Notes from OECD Economic Policy Reforms: Going for growth 2011 presenting OECD recommendations for structural reform priorities for individual countries.
Despite significant increases in spending on child care and education during the last decade, PISA scores suggest that educational performance remains static, uneven and strongly related to parents’ income and background.
The United Kingdom is likely to reduce emissions by more than its near-term domestic targets and its target under the Kyoto Protocol, outperforming many OECD countries in the latter respect.
A well-functioning housing market is essential for economic prosperity and well-being.
Economic growth will be subdued this year and next in the United Kingdom, but the government must continue its difficult fiscal consolidation and structural reform programmes to return the economy to a sustainable path, according to the OECD Secretary-General presenting this report in London.
OECD Secretary-General Angel Gurría hailed the budgetary measures announced today by U.K. Chancellor of the Exchequer George Osborne as a courageous move that will underpin fiscal consolidation while supporting economic recovery.
English, , 113kb
This note is taken from Chapter 3 of Economic Policy Reforms: Going for Growth 2010.