Best of the financial columnists
Why the UK lags on productivity
David Smith
The Times
The latest productivity figures are “a downer”, says David Smith. Output per hour worked is 4.8% down on ayear earlier while output per worker has fallen 1.1% since 2019. Germany, France and the US enjoy productivity levels some 17% higher than the UK. Why? A new report by the Resolution Foundation and the LSE dismisses the longstanding and seductive “long tail” theory, which holds that the key is to improve the performance of
