UK plc risks long-term stagnation and rising destitution, warns top thinktank

NIESR blames deepening malaise on economic mismanagement since 2008 amid criticism for BoE and Brexit

Britain's economy risks emerging from the pandemic into a long period of stagnation that damages household incomes and undermines plans to level up the regions, according to a hard-hitting report by the National Institute of Economic and Social Research.

As it downgraded growth forecasts for next year and predicted a rise in prices that could push inflation above 5%, the thinktank accused the government and the Bank of England of mismanaging the economy since the 2008 financial crash.