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1520401
unstar this property registered interest false more like this
star this property date less than 2022-10-11more like thismore than 2022-10-11
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Productivity remove filter
star this property house id 1 more like this
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25259
star this property pref label House of Commons more like this
unstar this property question text To ask the Chancellor of the Exchequer, what assessment he has made of the potential productivity of the UK. more like this
star this property tabling member constituency Gordon more like this
star this property tabling member printed
Richard Thomson more like this
star this property uin 61386 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2022-10-19more like thismore than 2022-10-19
star this property answer text <p>Potential productivity is an estimated economic concept that measures the maximum sustainable level of output that can be produced per hour worked across an economy. Where this estimated level sits relative to actual productivity data, as measure by the ONS, depends on how intensely factors of production are being used at a given time.</p><p> </p><p>The ONS publish quarterly updates on official UK productivity statistics and analysis of UK productivity.</p><p> </p><p>The Office for Budget Responsibility’s Economic and Fiscal Outlook also includes their outlook for potential output and productivity. The Chancellor has brought forward the OBR forecast date to 31 October. This will provide an in-depth assessment of the economy and public finances including a forecast for productivity.</p><p> </p><p>The Government continually monitors and assesses economic developments, including around productivity, to consider their impact on businesses and households. Boosting productivity growth is central to raising the UK’s economic growth, as part of the Growth Plan 2022.</p><p> </p>
star this property answering member constituency Kensington more like this
star this property answering member printed Felicity Buchan more like this
star this property grouped question UIN 61385 more like this
star this property question first answered
remove filter
star this property answering member
4821
unstar this property label Biography information for Felicity Buchan more like this
star this property tabling member
4796
star this property label Biography information for Richard Thomson more like this