Lloyds Banking Group has published a new report examining the issue of slow productivity growth in the UK. As you know, this is one of the most pressing issues for the UK economy today – the so called ‘productivity puzzle’.
Our new report examines the problem in an attempt to understand the root causes. We have joined forces with the Manufacturing Technologies Association, and together we canvassed the views of more than 1500 businesses across the UK (including more than 400 manufacturers).
• Businesses recognise that there is a productivity problem, but are far less likely to see productivity as an issue for their own business
• Many firms are not investing in the way that they should in order to grow productivity
• Businesses are aware they need to do more to innovate but are struggling for a number of reasons, not least a lack of ideas
• Businesses understand the barriers to and drivers of productivity growth and what action they believe is needed from Government – one key demand is for more economic certainty
The research has provided us with a detailed understanding of what businesses are thinking and doing about productivity – and armed with these insights our aim is to be able to help them navigate the challenges they face on the path to growth.
If you would like to talk more about the findings in the report then please contact me or post your views on the question raised in the heading. firstname.lastname@example.org 07764 625666