The problem with GDP is that it measures what we spend rather than the value of what we produce. For example, HS2 increases GDP, and the more inefficient they are at delivering it, the more GDP will rise. A better way to measure our performance would be to measure our trade deficit.
The problem with GDP is that it measures what we spend rather than the value of what we produce. For example, HS2 increases GDP, and the more inefficient they are at delivering it, the more GDP will rise. A better way to measure our performance would be to measure our trade deficit.