Government launches plan to fix the foundations of the British economy.

Chancellor publishes “Fixing the Foundations: Creating a more prosperous nation”, a comprehensive plan that sets the agenda for the whole of government over the parliament to reverse the UK’s long-term productivity problem and secure rising living standards and a better quality of life for our citizens.

While raising productivity is a global challenge, a large and widening productivity gap exists between the UK and leading advanced economies.

Narrowing this gap is a prize worth striving for. For instance, matching the productivity of the US would raise GDP by 31 per cent, equating to around £21,000 per annum for every household in the UK.

The government’s framework for raising productivity includes 15 key areas, built around two pillars: first, encouraging long term investment, and secondly, promoting a dynamic economy.

Click on the link to read more: Fixing the Foundations