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  • Anforme What effect might productivity growth have on the long term performance of the UK economy?

Anforme What effect might productivity growth have on the long term performance of the UK economy?

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Andrew Threadgould, Head of Economics and Business, Dulwich College, discusses the concerns about the UK’s competitiveness in global markets.

 

Summary of Key Points:

  • Productivity measures the efficiency of the economy in converting inputs into output.
  • Productivity is concerned with the supply side of the economy and supply-side growth allows non-inflationary growth.
  • The productivity gap describes the lower level of productivity in the UK compared to other major economies.
  • Recent government policy has focused on five areas related to productivity.
  • Whilst UK productivity is improving, even in relative terms it needs to rise still faster.

This article is from ET Volume 14 Issue 4.

Andrew Threadgould, Head of Economics and Business, Dulwich College, discusses the concerns about the UK’s competitiveness in global markets.

 

Summary of Key Points:

  • Productivity measures the efficiency of the economy in converting inputs into output.
  • Productivity is concerned with the supply side of the economy and supply-side growth allows non-inflationary growth.
  • The productivity gap describes the lower level of productivity in the UK compared to other major economies.
  • Recent government policy has focused on five areas related to productivity.
  • Whilst UK productivity is improving, even in relative terms it needs to rise still faster.

This article is from ET Volume 14 Issue 4.

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