NYT: Britain’s Economy Is ‘Not Working.’ Here Are 2 Key Reasons.
January 02, 2024 The article discusses challenges faced by a British semiconductor start-up, Paragraf, as it seeks to expand its manufacturing base in Cambridgeshire. Despite ambitions to increase production capabilities, the company encountered unexpected costs associated with upgrading the electricity supply to its new site, highlighting long-standing issues of underinvestment in Britain’s infrastructure. These challenges are not unique to Paragraf; across the country, complaints about inadequate investment in critical areas such as transportation and energy infrastructure have been mounting. To address these issues and reignite economic growth, there are calls for accelerating electrical grid upgrades and streamlining the planning approval process for new construction projects. However, significant obstacles remain, including lengthy delays in grid connections and objections from local communities. The government has announced measures to expedite planning approval and infrastructure projects, but further reforms are deemed necessary to attract investment and achieve sustainable growth. https://www.nytimes.com/2024/01/02/business/uk-economy-growth.html