Document Abstract

Time for demand: boosting productivity with public investments, minimum wages and paid holiday

Explores ways of increasing demand as part of a macroeconomic strategy to improve labour productivity. Describes the UK's problems with the productivity of its workforce, suggesting that supply-side measures are important but not sufficient on their own and that demand-side factors also need to be addressed. Presents proposals for the UK government to tackle productivity from the demand-side by: fiscal policy changes to increase demand through public investment to support a more sustainable economy and increased spending on public services; introducing faster increases to the national minimum wage and increasing statutory paid holiday entitlement. Concludes that these measures would increase demand significantly over the short to medium term as part of a strategy to boost labour productivity.

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Publication information

Author:
Stirling, Alfie
Year:
2019
Pages:
26
Ref No:
B53410
Source:
New Economics Foundation (NEF)

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