Productivity growth in the UK is close to historic lows. This roundtable will explore how policymakers and businesses can boost productivity, given the disruptive forces of Brexit and automation.
The UK entered the 2008 financial crisis with one of the lowest labour productivity levels among its European peers, and emerged with the steepest decline in productivity growth. While the UK’s productivity growth has recovered slightly since 2014, it remains near historic lows. Maintaining productivity growth has become a more complex task than ever, in the face of Brexit uncertainties and increasing automation. Yet growth is vital to London and the UK’s continued prosperity.
This private roundtable will dig deeper into the reasons behind the slowdown in productivity growth, drawing on new research from McKinsey & Company. We’ll be looking at how London’s economy has changed since the financial crash, and the risks and opportunities that a changing world of work poses to the economy.
As well as examining the diagnosis, the roundtable will discuss what levers need to be pulled to boost productivity growth, and how this relates to London. How can policymakers and businesses act wisely to boost productivity, and how should they balance their investment in technology versus investment in labour force skills?
Chaired by Ben Rogers, Director, Centre for London, the discussion will kick off with a short presentation by McKinsey & Company, sharing their latest findings and insights into the UK productivity puzzle. This will be followed by expert responses on the ramifications for London and the South East.