Public and Private Sector Productivity Trends

Lord Brooke of Alverthorpe Excerpts

Thursday 30th October 2025 Lords Chamber

[Lord Livermore (Lab)]

I am grateful to the noble Lord for his insight from that period. He is absolutely right. It was a time of high productivity; it is a shame that the second Conservative Government after that did not maintain it. We now have to deal with the inheritance from that Government. He is right to say that private sector investment is a key driver of productivity, so the lesson I draw from that period is that we have to encourage greater levels of private sector investment. Under the previous Government, private sector investment fell to the lowest in the whole G7. We have so far welcomed £120 billion in private investment and a further £150 billion during the US state visit last month alone.

[Lord Brooke of Alverthorpe (Lab)]

My Lords, does my noble friend the Minister agree that we are very good at telling other people what to do? Is it not time that we started having a look at our practices and productivity to see whether we can run Parliament and the Commons much more effectively than we are at the moment?

[Lord Livermore (Lab)]

I am very happy to say that that may be a question for someone other than me.