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Thursday, August 03, 2006


Tom Geraghty

This seems a little harsh, as (according to numbers I've seen) UK productivity (level) is only a few percent lower than Germany's (with all those great managers), and productivity growth was about as fast as in the US between 1995 and 2003.

According to the World Economic Forum's global competitveness report,

The United Kingdom (13th) . . . occup[ies] [a] relatively privileged positions in the overall rankings. . . . world-class public institutions . . .particularly strong scores on such variables as spending on R&D, collaboration between academia and the business community, and a broad range of variables which capture the use of various new technologies.

Sure the UK should do all it can to improve, but, really, is "plummeting efficiency" really justified?

New Economist

Tom, I agree - plummeting was the Telegraph's words, not mine (I should have made that clear in the post).

I would describe the UK's productivity performance as fair to lacklustre - levels are still well below France and the US, and growth has been no faster in recent years than it was a decade ago. Given all the good things about the UK economy, which Cotis readily acknowledged in his speech, one might have hoped for more.

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