In three weeks the new UK Labour government’s first budget will have taken place. It will tell us how the chancellor is fleshing out her economic policy tripod of stability, investment and reform — the correct prescription, in my view, to transform Britain. And it will provide the basis for economic renewal over the next decade that will determine in what shape we reach the midpoint of this century.
Boosting, and spreading, prosperity is the UK government’s key ambition. More than anything, this requires us to raise productivity growth across the economy and across all parts of our country. No single factor can account for the UK’s productivity slowdown. But, above all, persistent underinvestment is the underlying theme. The UK is the only G7 economy
