.
low skills. low productivity. low capital expenditure. low social mobility. working culture.
it has lagged for decades and productivity has flatlined since 2008.
1.
"The slowdown in Britain’s productivity growth over the last decade is the worst since the start of the Industrial Revolution 250 years ago, a dismal track record that is holding back gains in living standards across the country.
Research from academics at the University of Sussex and Loughborough University shows that the productivity growth slowdown since the 2008 financial crisis is nearly twice as bad as the previous worst decade for efficiency gains, 1971-1981, and is unprecedented in more than two centuries."
Researchers found decline from the pre-2008 growth trends almost four times that of 1930s
www.theguardian.com
2.
UK productivity continues lost decade
3. "Between 1974 and
2008, the
UK's productivity grew at an average rate of 2.3% a year, a much higher rate than the growth rate between
2008 and 2020 at around 0.5%. This is a substantial slowdown,
unparalleled in the period of the country's economic history for which we have decent measures of economic aggregates (from the mid-18th century ..."
What are the reasons behind the UK's low productivity? Are the measures announced during the 'mini-budget' sufficient to address the systemic challenges?
www.niesr.ac.uk
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TL;DR,
brexit made one of the worst advanced economies in the world "even worse" but the roots of the UK's economic malaise are more than about brexit.
www.cnbc.com
