Document Abstract

The great British break through: driving productivity growth in the UK

Argues that the UK’s productivity problem was not triggered by the financial crisis, only contributing to existing pressures, and that there have been longer term drivers of productivity stagnation. Explains that productivity is simply defined as ‘output against hours worked’ and highlights that its important because without increasing productivity, it’s unlikely we will see greater improvements in wages or quality of life. Discusses the three main drivers of productivity: investment and innovation; human capital; and regional dynamics. Suggests that there is a need for better measurement of productivity; one which includes those who are unemployed and inactive. Calls for increased grant funding for public research and development, further education colleges and local growth (predominantly through Enterprise Zones).

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Publication information

Author:
Centre for Social Justice
Year:
2017
Pages:
132
Ref No:
B49272
Source:
Centre for Social Justice (CSJ)

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