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Anton Muscatelli: Unless we can re-boot productivity, UK faces troubling questions over tax

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Anton Muscatelli: Unless we can re-boot productivity, UK faces troubling questions over tax

AS economists, we are often expected to be able to predict the future. But economists are not soothsayers. We cannot make unconditional forecasts. What we can do is to make some predictions conditional on our analysis and the shocks which may impact on our economies and society. Our toolbox does not contain a crystal ball, but it does contain some models which can help us understand how to respond if certain future shocks were to happen.