Britain is no longer considered a "rich country"

Britain is no longer considered a "rich country" due to a significant decline in living standards over the past 15 years. Economic stagnation, weak productivity growth, and minimal wage increases have left parts of the UK worse off than some of the poorest regions in countries like Slovenia and Lithuania. The National Institute of Economic and Social Research highlights that the typical British worker could have been significantly better off if the UK's productivity and wages had matched those of other nations, such as the US. This decline has raised concerns about the UK's economic and social model [A](https://www.telegraph.co.uk/business/2025/03/12/britain-no-longer-rich-country-after-living-standard-plunge/?copilot_analytics_metadata=eyJldmVudEluZm9fY2xpY2tEZXN0aW5hdGlvbiI6Imh0dHBzOlwvXC93d3cudGVsZWdyYXBoLmNvLnVrXC9idXNpbmVzc1wvMjAyNVwvMDNcLzEyXC9icml0YWluLW5vLWxvbmdlci1yaWNoLWNvdW50cnktYWZ0ZXItbGl2aW5nLXN0YW5kYXJkLXBsdW5nZVwvIiwiZXZlbnRJbmZvX21lc3NhZ2VJZCI6InB3aVlqZ3VhazFnYnlnZWtRQ3FBZyIsImV2ZW50SW5mb19jbGlja1NvdXJjZSI6ImNpdGF0aW9uTGluayIsImV2ZW50SW5mb19jb252ZXJzYXRpb25JZCI6IlZMMVBSVFNBcG40bkd0RDlqMkVWaCJ9&citationMarker=9F742443-6C92-4C44-BF58-8F5A7C53B6F1).