Whether you are in government trying to boost GDP, a business wanting to improve bottom line or an individual working through a daily to-do list, productivity is something that is important to us all. Its significance was succinctly summed up by economist Paul Krugman, with the quote: “Productivity isn’t everything, but, in the long run, it is almost everything. A country’s ability to improve its standard of living over time depends almost entirely on its ability to raise its output per worker.”
In the UK, like many developed countries, the productivity growth has stalled since the financial crisis in 2008. The Office of National Statistics reported an increase of just 2.5 per cent during the five years to the third quarter of 2017. While the government recently committed £23 billion of investment into a new National Productivity Investment Fund, there is still an urgent need for innovation.
In this article, Billy D’Arcy, UK CEO, BAI Communications discusses how the UK’s productivity growth needs drastic improvements, suggesting a better-connected network as the solution. You can read the full article here.