Bank of England governor says UK faces ‘acute challenge’ from sick and ageing workforce
Andrew Bailey, the governor of the UK Bank, said that weak economic growth and decrease in labor numbers constitute a “acute challenge” to England.
Wyoming said the fiscal policy makers in Jackson Hole came together.
According to official data, the percentage of 16 to 64 years old, which is economically active in the UK, has fallen since Covid Pandemi and made the country a contrary among advanced economies. Mr. Bailey added that the fact that mental health becomes the most common cause of inactivity is a “very relevant development”.
Authorized, warnings against these data, low response rate and economicly active participants to participate in the participation of a higher chance, he said.
Regardless of this, Mr. Bailey said: “This is a very sad story for England because… We are at the bottom of the league table.”
Speaking at the weekend, the policy -maker claimed that increasing disease and a major decrease in young people at work may at least partially depend on it.
The latest government research has found that approximately 1 out of 4 people are less than 35 and that mental health is one of the most common problems.
Increasing the increase in productivity should be a priority for England, Bailey said: “Aging will not return in the predictable future.” Estimates show that 40 percent of the British population will be greater than 64 years by 2040. “
The worker said he wanted to increase labor participation and economic growth and that he wanted to explain various policies for this purpose since he came to power in July 2024.
The Ministry of Labor and Retirement (DWP) received 45 million pounds to present a project in the early stages of a ‘Youth Guarantee’ – an early stages that aims to ensure that all young people are in business, education or education.
Welfare reforms have formed a central part of the government’s plans to increase labor force participation. However, the ministers had to irrigate cuts for disabled benefits in July after widespread criticism, including most of their own deputies.
The data for April-June 2025 showed that 21 percent of the British between the ages of 16-64 was not actively looking for jobs or actively looking for work, but more than 20.3 percent pandemic from a summit of 22.2 percent in 2024.
Some Bank of England policy makers expressed their fear that the participation of the labor force causes British inflation rate to remain stubbornly stubbornly on the target. In July, the G7 is the highest at the G7, with 3.8 percent, and the bank’s 2 percent target is far above.
