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Enterprise & productivity
06 August 2008
Productivity growth, alongside high and stable levels of employment, is central to long-term economic performance and rising living standards. Increasing the productivity of the Economy is a key objective for the Treasury. Read more on the government´s policy
The Government’s approach to improving the UK’s long-term productivity performance has two broad strands: maintaining macroeconomic stability to enable firms and individuals to plan for the future, and implementing microeconomic reforms to remove the barriers which prevent markets from functioning efficiently. These microeconomic reforms address historic weaknesses in areas that affect the rate of productivity growth.
Effective and well-focused regulation can play a vital role in correcting market failures, promoting fairness and increasing competition.
Strengthening competition to encourage firms to innovate, reduce costs and provide better quality goods and services to the consumer.
Promoting enterprise to encourage firms to innovate, reduce costs and provide better quality goods and services to the consumer.
Encouraging investment to improve the UK’s stock of physical capital in every sector and industry.
Productivity in the UK index
Creating the right environment for business to raise productivity and greater efficiency.
Public sector research, economic performance, terms of reference, Baker report and Sir Gareth Robert's report.
Supporting science and innovation to harness the potential of new ideas, technologies and working practices.
The quantity and quality of skilled labour available in an economy is an important determinant of economic performance and productivity growth.