Biden’s clean energy brainwave paves Britain’s way to post-Brexit growth. Dare we copy him? | Larry Elliott

Where the US leads in using state aid and subsidies, the EU is now following. But the UK will need a change of mindset

Stagnation nation. That’s an apt two-word description of the UK, where after 15 years of sluggish economic performance the prospect is for a shallow recession this year.

Politicians know they have a problem. In the past 13 years, David Cameron, Theresa May, Boris Johnson, Liz Truss and now Rishi Sunak have all proposed different ways of fixing things, none of which have moved the dial that much. Jeremy Hunt says his budget, on 15 March will be all about growth, but don’t hold your breath.

Larry Elliott is the Guardian’s economics editor