Guest contribution by Gabor Stingart: In the fast lane: why Boris Johnson’s British are now behind us financially
No need to understand Boris Johnson and his British. But a look at the island can’t hurt to see what’s going on and what’s better in the pandemic than in Germany. Despite Brexit, Great Britain is currently in the economic fast lane.
To better identify themselves, vain people look in the mirror and wise people look at the garden fence. What we Germans see there, especially when we walk far and wide and see the British Isles, we must think. The same country that has left the European Union is currently outperforming Europe’s largest economy in all important categories. Here are four sides to an uncomfortable truth:
1. The mother of all economic success in times of pandemic is the speed of vaccination. The country led by Boris Johnson achieves much better results in this discipline than Angela Merkel’s Federal Republic. In Great Britain, more than twice the proportion of the total population is fully vaccinated: 40 percent versus 19.5 percent. It’s before getting up after the lockdown.
Johnson’s growth engine and service sector
2. For the economy, rapid immunity of the population is the decisive impetus. No wonder: the British growth engine is changing faster than Germany. The local economy will grow at 5.3 percent in 2021 and 5.1 percent in 2022. Germany is also growing, but slowly. We learn: the much-anticipated benefits of the EU over the British outsider have not made the leap from political discourse to economic reality.
3. Above all, the British service sector, which all politicians in this country said would suffer like a dog from Brexit, is growing significantly. The highest growth rate in 24 years will be measured here in 2021. The Financial Times writes: “A sensational event indeed. “
Labor excluded: Johnson creates new jobs on the island
4. Ordinary workers and small white-collar workers also benefit. Thanks to the low unemployment rate (see graphic), prosperity in Great Britain is likely to grow faster in 2021 than in Germany. The conservative prime minister has been flying equally high in opinion polls against the Labor Party, which he has long touted.
Conclusion: We don’t need to imitate like the British, but we should understand it. The nation-state, which has been declared dead by many German politicians, appears to be very much alive on the island. You get the impression that the corpse is smiling at us.
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