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"As countries get richer, higher levels of GDP lead to higher aspiration.
In 1990, Poland and Ukraine had similar levels of GDP per head.
"They need to cut government spending, but that further reduces already low levels of GDP growth".
Figures from the World Bank show that other countries in north and western Europe, such as the Netherlands, France or the Nordic countries, have similar or even higher levels of GDP per capita than the UK.
"I was showing this to the students this morning: if you look at GDP and life expectancy, at very low levels of GDP, in-country there is a tight relation.
Already the higher levels of GDP are tending to flatter public-debt burdens, reducing the French debt-to-GDP ratio by 1.6 percentage points, for instance.
Similar(21)
But who wants to know that resource productivity is equal to the level of GDP divided by material consumption?
And Britain once again has a higher level of GDP per capita level than its old European rivals.
Britain is still more than 4% below the level of GDP recorded in 2007 and about 12% below the trajectory set before the financial crisis.
Combined with other changes to the national accounts from September, £33bn or 2.3% will be added to the 2009 level of GDP, the ONS said.
It said today that it has calculated that the VAT increase to 20% from 17.5% in January would reduce the level of GDP in 2011/12 by 0.3%.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com