Can we get back to trend growth or more post pandemic in the UK?

Abstract

The OECD has calculated that after the bounce back and return to pre-pandemic levels there will be still a lot to sort out. Their estimates are that there will be scarring that is left when countries shake themselves off- not just in relation to high levels of debt that will have been accumulated and which will need to be addressed somehow but also because of the distortions created and the misallocation of resources during the pandemic that will need to be unwound . There have undoubtedly been unequal impact of the epidemic on different parts of society, regions and sectors and that could leave permanent scarring. And that could well be reflected in a lower growth of GDP per annum than would otherwise have been the case . But for the UK it will be worse than for its European counterparts according to the OECD because of Brexit. This will mean, if true, that the UK will have to run faster to catch up than others may have to do.