What is productivity? New video launched for Productivity Plan inquiry
8 October 2015
The video touches on what productivity is - put simply, how much the UK economy creates, divided by how much it puts in – and what affects productivity, including how skilled workers are, how easily workers can move to suitable jobs and how good the equipment is that they use to work.
On launching the Productivity Plan inquiry, Iain Wright MP, Chair of the BIS Committee said:
"Productivity is the pressing economic challenge of this Parliament and tackling the productivity gap is crucial to the UK's economic competitiveness and to improving workers' living standards. As a Committee we will keep a determined focus on scrutinising investment, regulation, innovation and skills policies designed to boost productivity."
Productivity Plan inquiry
The Committee's Productivity Plan inquiry—the first of the new Parliament—explores whether the Productivity Plan addresses the main causes of low productivity in the UK and examine whether it is likely to deliver its desired results.
The Productivity Plan covers a wide range of areas, including the tax regime for businesses, skills, science and innovation, digital infrastructure, investment and trade.
Image: Parliamentary copyright