Anna Valero

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    Productivity Plan: A sound framework, but gaps in policy persist. More is needed to get productivity growing again

Productivity Plan: A sound framework, but gaps in policy persist. More is needed to get productivity growing again

Following the summer budget, the government released a productivity plan aimed at dealing with a chronic issue facing the UK’s economy. Anna Valero and John Van Reenen review the plan, writing that overall the plan is broadly right, but that some gaps in policy remain.

The Chancellor’s productivity plan “Fixing the foundations: Creating a more prosperous nation” is long overdue. During […]

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    Summer budget: High hopes for the productivity plan – is enough being done?

Summer budget: High hopes for the productivity plan – is enough being done?

In the 2015 summer budget, George Osborne at last identified the UK’s productivity performance as an important issue that needs to be tackled. Here, Anna Valero reviews some of the measures ahead of further detail on the government’s productivity plan due out tomorrow. 

The issue of productivity was left out of the March budget and somewhat ignored during the general election campaign […]

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    Productive Labour? How a Labour government would address the productivity challenge

Productive Labour? How a Labour government would address the productivity challenge

In this post, Anna Valero assesses Labour’s key policies for raising productivity, the main problem facing the UK economy. She finds that claims that the party is “anti-business” are exaggerated; on the whole Labour appear serious about addressing the productivity challenge and the party’s certainty in terms of staying in the EU is good for business.

In the run up to the general election, Labour have […]

Productivity: the elephant in the room

George Osborne failed to mention the dire performance of productivity since 2008 in the budget speech. This was a disappointment as raising productivity is crucial for a robust recovery. Policies on tax, regulation, business support and funding for science and research can create help businesses invest and become more productive, writes Anna Valero.
In his budget speech, the Chancellor cherry-picked a whole host of […]

How to return to growth and solve the productivity puzzle

UK productivity has been declining since the onset of the financial crisis, and today the gap with G7 nations is at its widest since 1992. João Paulo Pessoa, Anna Valero and John Van Reenen of the Centre for Economic Performance argue that underinvestment is key to understanding this. The recovery so far seems unbalanced; policymakers must focus on raising productivity to […]

The UK’s sustained growth between 1997 and 2008 was fuelled by the importance of skills and new technology. Rather than just austerity, the government should focus on building human capital and innovation to support long-term growth.

Some commentators have argued that the prosperity boom experienced under the last Labour government was a ‘free ride’ which benefited from the earlier policies of Margaret Thatcher and the Conservatives, and that Labour did little to improve the economy, leaving it in a more vulnerable state when the global recession came. New research from Anna Valero, John Van Reenen and […]

Slow growth does not have to be our ‘new normal’. Government needs to change the way it looks at the growth problem in the long term.

Today the IMF cast doubt on the Chancellor’s deficit reduction programme and new figures suggested that manufacturing activity had all but ground to a half. The news from the Office of National Statistics (ONS) last week that the UK economy grew by only 0.2% in the second quarter of 2011 – down from 0.5% in the first quarter – also […]