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Hello and welcome.

You are listening to Patrick Boyle on finance, a podcast exploring ideas from quantitative

finance, examining events occurring

in markets right now and financial history to see what lessons can be taken away, including

interviews with some of the most interesting people in the world of finance.

To learn more about the podcast, visit onfinance.org.

The UK's Futsi 100 index closed at an all-time high this Monday,

as expectations for UK interest rate cuts weakened the pound and boosted stock prices.

As exciting as a new all-time high might sound, in dollar terms or adjusted for inflation, the footsie has hardly budged in 25 years. A recent

report from Goldman Sachs says that the UK has significantly underperformed other advanced economies since the 2016

Brexit referendum, with lower growth and higher inflation.

Their analysis shows that the British economy is 5% smaller than it would have been had

it remained in Europe.

The IMF listed the UK in its Fiscal Monitor publication last week as one of four

large economies that critically need to take policy action to address fundamental imbalances

between spending and revenues.

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