Friday 6 January 2017, Following the release of the latest ONS productivity figures, Stephen Ibbotson, Director of Business at ICAEW comments:
“It’s no secret poor productivity is partly to blame for the slowing of GDP growth. The latest ONS figures show a minimal improvement to UK productivity and highlight a concerning regional disparity.
“At a time when economic growth is slumping, the Government needs to start addressing this worrying lack of improvement to UK productivity. Government must start being accountable and introduce a productivity target. This would help measure and monitor performance in the future, creating a greater accountability for its conduct. We are lagging behind all other major economies and without a target there is little motivation for positive change.”