Productivity Report 2016
Lloyds Banking Group and the Manufacturing Technologies Association (MTA) surveyed 1500 British businesses including 300 manufacturers about their views on UK productivity trends.
While the majority of respondents think the UK has a productivity problem, relatively few believe that it is a problem for their own business.
The key factors seen as obstacles to faster productivity growth are:
- low skill levels
- inadequate investment and
- a lack of innovation
Businesses say that a more highly skilled labour force is the key thing they are looking for to drive faster productivity growth. A more pro-investment tax system came second in our survey, while manufacturers also gave a particularly high weighting to investment in science and innovation.