The Office for National Statistics says that, had productivity in the UK returned to its pre-recession trend, it would be 20% higher than its current level. Britain would be one fifth better off.
The normal pattern is that after a recession, productivity bounces back and we recover (at least most of) what we lost.
However, we have had no bounce since the great financial crisis.
It ts not just the UK - the pattern is remarkably similar around the globe.
The time to wait for the bounce has gone - the UK needs action to recover.
Let's hope the new Productivity Council can pull the trigger.
And, for your business, its up to you. You have to find and pull your own trigger.... find your own bounce.
The normal pattern is that after a recession, productivity bounces back and we recover (at least most of) what we lost.
However, we have had no bounce since the great financial crisis.
It ts not just the UK - the pattern is remarkably similar around the globe.
The time to wait for the bounce has gone - the UK needs action to recover.
Let's hope the new Productivity Council can pull the trigger.
And, for your business, its up to you. You have to find and pull your own trigger.... find your own bounce.
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