“The productivity gap is well known, but shocking nonetheless,” Hammond said on Wednesday. As Brown’s comment shows, lacklustre productivity has hung over the UK for years. The government’s autumn statement document states that improving productivity is the “central long-term economic challenge” for the UK and pivotal to increasing wages and living standards. “It’s tough to attract and retain skilled managers, and we need 2 million more by 2024. So we know that building management capability is critical for growth in the UK and we hope that the welcome focus on productivity will include the need to improve our management structures.”

Source: The Guardian November 23, 2016 18:56 UTC