Obviously there are other great suggestions regarding deregulation and tax incentives.
Europeans are rarely as ambitious as our American counterparts, and certainly not as confident. This is cultural, but culture is taught and learned, and perhaps this issue is one that can be solved in education - teach agency through independent projects rather than curriculums that promote knowledge where innovation is needed. Focus on building in schools. The UK / France / Germany / Spain and the whole of western Europe have a much softer bottom for those that take risks and fail, so one would expect that we would support ingenuity but it is soul sapping to try and push the boat out in the UK. The richness of European history leaves too much deference to ideas and attempt of great people who have tried already to solve a problem in the past. Its cultural.
We do also have a huge influx of people and this influx is not bringing any GDP growth - it seems the EU and UKβs fundamental issue is a money issue and a growth issue. Public services grow capacity in line with funding i.e. GDP, not population, and GDP is not growing in line with population growth through immigration in the same way as it does organic population growth. Either we need to ensure the immigration does actually drive growth (how to do this idk), or we need to control immigration better.
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