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The UK economy: policies for investment and productivity growth

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  • Anna Valero
  • John Van Reenen

Abstract

Since the global financial crisis, the UK has been grappling with persistent poor productivity performance. While a number of factors have been at play, reduced investment due to austerity harmed growth in the early years, and more recently, policy uncertainty surrounding Brexit has held back investment. While Brexit has dominated UK politics and economic policy since the referendum on EU membership in 2016, the UK government has been developing an industrial strategy in recent years, and has also made a commitment to achieving net zero carbon emissions by 2050. These two elements of policy must be consistent and long-term to enable the UK to meet its commitments, while realising the growth opportunities associated with innovation in the low carbon transition. While institutions around industrial strategy have been strengthened, there is a risk that the volatile political climate could prevent its objectives from being achieved.

Suggested Citation

  • Anna Valero & John Van Reenen, 2019. "The UK economy: policies for investment and productivity growth," CEP Election Analysis Papers 049, Centre for Economic Performance, LSE.
    • Handle: RePEc:cep:cepeap:049
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    File URL: https://cep.lse.ac.uk/pubs/download/ea049.pdf
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    Cited by:

    1. Jiaqi Li & Anna Valero & Guglielmo Ventura, 2020. "Trends in job-related training and policies for building future skills into the recovery," CVER Research Papers 033, Centre for Vocational Education Research.
    2. Andreas Teichgraber & John Van Reenen, 2021. "Have Productivity and Pay Decoupled in the UK?," International Productivity Monitor, Centre for the Study of Living Standards, vol. 41, pages 31-60, Fall.
    3. Ralf Martin & Sam Unsworth & Anna Valero & Dennis Verhoeven, 2020. "Innovation for a strong and sustainable recovery," CEP Covid-19 Analyses cepcovid-19-014, Centre for Economic Performance, LSE.

    More about this item

    Keywords

    productivity; Brexit; low investment; earnings;
    All these keywords.

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