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Economics & Finance productivity

Hammond’s goal in this Budget should be to restart the productivity engine

The amount Britons produce for every hour worked has remained stubbornly stagnant

By Matthew Whittaker  
November 17, 2017

Photo: Matt Crossick/Matt Crossick/Empics Entertainment

Matthew Whittaker makes the link here between productivity, living standards and the Budget next week. For a longer-term view on the productivity challenge facing Brexit Britain, read Diane Coyle’s essay from our December issue. 

As a nation, we’re working smarter than we used to. A decade ago, for every hour we worked, we produced about £31.30 of stuff; today each hour of graft generates £31.85 of output. That sounds like good news. If we’re becoming more productive we should be able to treat ourselves to a…

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Matthew Whittaker

Matthew is Chief Economist at The Resolution Foundation

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