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Osborne says low UK productivity is a key economic challenge for the new Government

 

The Chancellor’s speech to the CBI (19th May) highlighted that the UK faces a “productivity puzzle’ and that ‘frankly, nobody knows the whole answer’”

According to the National Office of Statistics (April 2015) the UK’s per capita productivity is more than 30% lower than the US and Germany.  This is clearly a ticking time-bomb and threatens the Government’s recovery programme and the UK’s future economic prosperity. 

Prophetically, the 'father of management' Peter Drucker foresaw the present crisis as long ago as 1993 in his seminal book ‘Post-Capitalist Society:

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