2023: UK exits recession, but productivity growth stagnant since 2008; economist Nigel Driffield suggests increasing R&D investment and addressing regional inequality to improve productivity.
The UK exited recession in 2023, but productivity growth has been stagnant since 2008, lagging behind countries like Germany, France, and the US. Economist Nigel Driffield from Warwick Business School highlights two key ways to improve productivity: 1) Increase investment in research and development, and 2) Address regional inequality to ensure a skilled workforce. These steps, although challenging, are essential for the UK to boost living standards and wages.
March 13, 2024
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