Business, Innovation and Skills Committee

Productivity Plan inquiry

Inquiry status: open

Report published, awaiting Government response.

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Scope of the inquiry

This inquiry explores whether the Productivity Plan addresses the main causes of low productivity in the UK and whether it is likely to achieve its desired results.

The Productivity Plan covers a wide range of areas, including the tax regime for businesses, skills, science and innovation, digital infrastructure, investment and trade.

Full terms of reference

Latest evidence

What is productivity?

Productivity = Output (GVA) ÷ Input (hours worked)

During the recession, productivity fell and has not recovered yet.
It is important because higher productivity means higher living standards.

There are many different things that affect productivity, including

  • how skilled workers are;
  • how easily workers can move to suitable jobs; and
  • how good the equipment is that they use to work.

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