G20

We first need to recognise that this year has seen the largest fall in unemployment in Britain since records began, and it is a complete fiction to say that all of those jobs are low paid. That is not the case. A lot of those jobs are in more skilled professions where the pay levels are higher. On productivity, it is of course an important challenge for the UK, but I would say that one hopeful sign is that the increase in business investment—a key component of GDP—has rapidly increased this year and it can lead to an increase in productivity.