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The Good, the Bad, and the Ugly: Three Takeaways from the UK Autumn Budget 

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Britain has been changed by 14 years of Tory government. The economy has mainly been stagnant during that period. Wage growth, adjusted for inflation, has been sluggish. Austerity in the aftermath of the financial crisis was a massive mistake, leading to years of subpar economic performance. Public services have deteriorated, especially the NHS. Brexit dealt another blow to the economy. Estimates suggest that it might shave off some 4% of GDP in the long run.  

The economic recovery from the pandemic has been anemic, as well. Economic inactivity increased. Close to a million people have left the labor force, many

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