Labour May Have the Fix the UK Economy Needs: Mohamed El-Erian

Less than a week in office, the UK’s new Labour government is wasting no time in pursuing some of the major economic initiatives outlined in its election manifesto. This is good for the economy, and it is sorely needed for a country that, for more than a decade, has lagged behind the Group of Seven nations in investments and productivity. Labour’s growth-oriented policies need to be implemented sooner rather than later, in a concentrated rather than stretched-out manner, and comprehensively rather than piecemeal.

Tuesday’s policy announcement included new Chancellor of the Exchequer Rachel Reeves and colleagues launching a promisinginitiative ...