Productivity

(asked on 18th April 2019) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate he has made of the level of increased productivity in the economy.


Answered by
Robert Jenrick Portrait
Robert Jenrick
This question was answered on 30th April 2019

In the long run, the only way to ensure sustainable growth, higher wages and increases in living standards is through raising productivity. The latest data showing an increase in the level of productivity is welcome, however productivity growth remains a key challenge.

The government is tackling this challenge head on; investing over half a trillion pounds in capital investment, cutting taxes for businesses, improving access to finance, increasing the National Productivity Investment Fund to £37bn at Budget 2018 and committing to reform technical education, such as the introduction of T-levels.

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