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Productivity Profile of the United Kingdom

 

Icon made by Freepik from www.flaticon.com Organisations

 

 Bank of England (BoE): Research of the Bank of England underpins the Bank’s policy activities on subjects relevant to its core duties, including monetary and financial stability.

 

Office for Budget Responsibility *OBR)The Office for Budget Responsibility is an official independent fiscal watchdog and provides analysis of the UK’s public finances, including 1) economic and fiscal forecasting; 2) evaluating performance against targets; 3) sustainability and balance sheet analysis; 4) evaluation of fiscal risks; 5) scrutinising tax and welfare policy costing.

  

Icon made by Freepik from www.flaticon.com Selected Publications


Bank of England: The UK’s Productivity Problem: Hub no Spokes (2018), Productivity Puzzles (2017), The Productivity Puzzle: a firm-level investigation into employment behaviour and resource allocation over the crisis (2014), The UK Productivity Puzzle (2014);

OECD: The UK Productivity Puzzle through the Magnifying Glass: A Sectoral Perspective (2018);

Office for National Statistics (ONR): Which Occupations are at Highest Risk of Being Automated? (2019), Public Service Productivity: total, UK, 2016 (2019), Experimental Estimates of Investment in Intangible Assets in the UK: 2015 (2018), Information and Communication Technology Intensity and Productivity (2018), Understanding Firms in the Bottom 10 % of the Labour Productivity Distribution in Great Britain: “the laggards” (2017);

National Institute of Economic and Social Research: Below the Aggregate: A Sectoral Account of the UK Productivity Puzzle (2018), Productivity Dynamics in the Great Stagnation: Evidence from British Businesses (2014).

  

Icon made by Smashicons from www.flaticon.com Data

 

 GBR productivity growth graph

 

Click here to access our Compare-Your-Country tool and explore productivity data from the GFP member countries.  

  

 Latest OECD Recommendations

 

  • Regional spending should be targeted, notably on infrastructure and housing
    • In particular, invest in improving inter- and intra-city transport links where such investments can foster agglomeration effects and unlock related productivity benefits;
  • Continue to increase direct and indirect support for private and public R&D, and for the collaboration between businesses and universities to promote applied innovations and their diffusion
  • Improve the skills of workers
    • By allowing for more freedom to adapt technical education to local business needs;
    • By increasing the financing for – and continue to promote the effectiveness of – active labour market policies for youth who are neither in employment nor in education or training;
    • Introduce individually targeted programmes for low-wage and low-skilled workers to improve their lifelong learning opportunitiesIntroduce individually targeted programmes for low-wage and low-skilled workers to improve their lifelong learning opportunities.

 

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