I am not going to.
In 2016 that section of the Red Book ran to a full 10 paragraphs, beginning with the boast that:
“Britain is forecast to grow faster than any other major advanced economy”.
Well, what a difference a year makes. Now that section runs to just one measly paragraph, on page 13, and it does not state how much Britain will grow compared with the rest of the world. For that comparison, we must turn to the OBR, which has stated:
“The pattern of strengthening growth across the other major advanced economies this year contrasts with the slower pace of growth in the UK.”
While it has slashed its forecast for UK growth up to 2022, it has upgraded its forecast for the rest of the world. George Osborne used to boast in every Budget that Britain was winning “the global race.” We now have a Government lagging along at the back of the global field and falling ever further behind. So much for global Britain.
If anyone thinks that growth figures are just numbers on a spreadsheet with no real-world implications, they should turn to two areas where the downgrading of Britain’s growth is already having direct and immediate effects: our spending on defence and on development.