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Britain’s productivity funk will pass

Since the crash Britain has lost years in all-important productivity growth—but a revival will come sooner or later

By George Magnus  

Photo: Matt Crossick/Matt Crossick/Empics Entertainment

Productivity is the holy grail. It drives wages, consumption and general standards of health and welfare. Without productivity growth, living standards might not be that different from what they were in late Victorian times. It is the key to managing an ageing society successfully, and for Brexit Britain, it is the only way to limit the damage caused by leaving the European Union. Productivity, or rather the lack of it, is a fundamental reason for disappointing economic…

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