Britain’s opposition Labor Party has published an analysis showing that the standard of living in Great Britain could lag behind that of Poland and later Hungary and Romania by 2030 if they do not make major changes to the country’s economic policies, Reuters reports.

The UK economy narrowly avoided recession at the end of 2022, but faces a tough 2023 as the effects of double-digit inflation hit households. However, Labor leader Keir Starmer has warned that the country could soon become poorer than some Eastern European countries.

Charting his battle line at the next national election, expected in 2024, Labor leader Keir Starmer vowed last week to deliver a UK economy that would sustainably grow the fastest in the G7 if he wins power.

The Labor Party has published a benchmarking analysis which shows that living standards in the UK could fall behind those of Poland and eventually Hungary and Romania by 2030 unless London’s policies change.

The party said that based on average annual growth of 0.5% between 2010 and 2021 in the UK, the figure would lag behind Poland’s GDP per capita by 2030 if Poland maintained average annual growth of 3.6%.

The comparison was based on purchasing power parity, an indicator that takes into account what money can buy in different countries and which usually shows smaller differences than in unadjusted comparisons.

Poland, a former communist state, has experienced rapid growth since joining the European Union in 2004, thanks in part to an infusion of development funds worth hundreds of billions of euros from the European bloc. Like the UK, it is currently facing high inflation and an expected economic downturn.

The Labor Party did not respond to an inquiry about who carried out the analysis.

But using the same analysis, the party says that by 2040 Britain, if it maintains its current trajectory, will be $12,000 per capita behind Romania and $8,000 per capita behind Hungary, assuming they also stay on its current trajectory.