I agree that high-speed broadband is essential. It would create capacity and productivity in areas that infrastructure might find hard to reach.
These factors will, I believe, allow the UK to overcome the impact on productivity from cyclical and sector changes, such as the scaling back of financial services and the artificial productivity that financial services might have created during the last 10 years.
The third cause of optimism is the new workforce. Although a high proportion of the 2 million jobs are highly skilled, some are obviously lower skilled and might not yet contribute as much to the UK’s productivity. This is part of the investment in people, via new jobs and apprenticeships, which will take people up the career ladder to increased productivity. Giving a job opportunity to someone who was previously on welfare can transform their lives and, as they reach their potential, I believe that will help our economic productivity as well as enriching the cause of social justice in this country.
I am led to conclude that the nation has experienced significant support, thanks to action taken by the Government since 2010 that has allowed UK plc to increase the UK employment rate by 2 million jobs. Naturally, with the definition of productivity being the unit of output per unit of labour, that may have impacted on overall productivity rates, but I believe we stand right to increase our productivity as long as the Government stand their course on the route ahead.
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