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515231

registered interest
date	25/04/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Productivity
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what recent assessment he has made of the accuracy of the methodology used to measure productivity in the UK.
tabling member constituency	Greenwich and Woolwich
tabling member printed	Matthew Pennycook
uin	35257
answer	answer is ministerial correction date of answer 04/05/2016 answer text <p>The Independent Review of UK Economic Statistics, commissioned by the Chancellor and Minister for the Cabinet Office last summer, suggested that fuller measurement of the economy could add between one-third and two-thirds of a percent to the growth to UK GDP. Better measurement of the digital economy, intangible investment and the sharing economy could therefore improve measurement of output, and thus productivity. The Chancellor welcomed the report’s findings at Budget 2016 and committed to invest over £10m in a new hub for data science, and a centre for excellence for improving measurement of the modern economy.</p><p> </p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 04/05/2016 11:43:26 answering member 1526 label Biography information for Greg Hands
tabling member	4520 label Biography information for Matthew Pennycook

512953

registered interest
date	14/04/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Productivity
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what definition the Government uses of productivity.
tabling member constituency	Mid Sussex
tabling member printed	Sir Nicholas Soames
uin	34146
answer	answer is ministerial correction date of answer 19/04/2016 answer text <p>The government uses a number of measures to examine productivity, looking at output per hour, output per worker and output per job. While the measure used will depend upon the circumstances, output per hour is generally regarded as the best measure.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 19/04/2016 16:20:14 answering member 1526 label Biography information for Greg Hands
tabling member	116 label Biography information for Lord Soames of Fletching

479084

registered interest
date	16/03/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Productivity
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what estimate his Department has made of the effect of changes in the participation rate on economic productivity; and if he will make a statement.
tabling member constituency	Coventry South
tabling member printed	Mr Jim Cunningham
uin	31392
answer	answer is ministerial correction date of answer 23/03/2016 answer text <p>Government action to reward work and reform benefits has delivered a strong labour market which has seen the employment rate grow more than any other G7 country since early 2010 (Q1), and in the three months to January it stood at 74.1 per cent – the highest since records began.</p><p> </p><p>The government believes it is possible to maintain a strong labour market and improve productivity performance, and this why it has set out a comprehensive programme of structural reform in the productivity plan – “Fixing the Foundations” – with further measures included in Budget 2016.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 23/03/2016 14:41:49 answering member 1526 label Biography information for Greg Hands
tabling member	308 label Biography information for Mr Jim Cunningham

453651

registered interest
date	22/02/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Productivity
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps he is taking to reduce the productivity gap.
tabling member constituency	Bermondsey and Old Southwark
tabling member printed	Neil Coyle
uin	27727
answer	answer is ministerial correction date of answer 29/02/2016 answer text <p>The government has published “Fixing the foundations: Creating a more prosperous nation”, its plan for productivity growth in the UK. This plan outlines the steps the government is taking to encourage further investment in the drivers of productivity growth, including science, education, skills and infrastructure. It also sets out the ways the government is promoting a dynamic economy through reforming planning laws, boosting competition and creating a Northern Powerhouse.</p><p> </p><p>These steps include: investing £6.9 billion in the UK’s research infrastructure up to 2021; introducing a levy on large employers to help deliver 3 million apprenticeships starts this Parliament; guaranteeing that all revenue raised from VED in England from 2020-21 will be allocated to a new Roads Fund and invested directly back into the strategic road network; and creating a new “zonal” system which will grant automatic permission in principle on brownfield sites.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 29/02/2016 16:18:27 answering member 1526 label Biography information for Greg Hands
tabling member	4368 label Biography information for Neil Coyle

453667

registered interest
date	22/02/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Productivity
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what research his Department has (a) commissioned and (b) carried out on the structural factors in the economy that have contributed to the scale of the productivity gap.
tabling member constituency	Mid Sussex
tabling member printed	Sir Nicholas Soames
uin	27800
answer	answer is ministerial correction date of answer 25/02/2016 answer text <p>The Treasury has commissioned no external research on the productivity gap. The Treasury’s analysis is laid out in Annex A of the Productivity Plan, which was published in July 2015 (<a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/443898/Productivity_Plan_web.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/443898/Productivity_Plan_web.pdf</a>, pages 77-82). This draws on evidence from academics, the Bank of England and others.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 25/02/2016 17:15:27 answering member 1526 label Biography information for Greg Hands
tabling member	116 label Biography information for Lord Soames of Fletching

453668

registered interest
date	22/02/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Productivity
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the reasons for the scale of the productivity gap.
tabling member constituency	Mid Sussex
tabling member printed	Sir Nicholas Soames
uin	27801
answer	answer is ministerial correction date of answer 25/02/2016 answer text <p>The government set out its understanding on the reasons for the productivity gap in Annex A of the Productivity Plan, published in July 2015 (<a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/443898/Productivity_Plan_web.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/443898/Productivity_Plan_web.pdf</a>, pages 77-82).</p><p> </p><p>A number of factors contribute to the UK’s lower level of productivity compared to the most productive countries in the world, including lower levels of investment, especially in research and development. There are a further set of explanations for the shortfall in performance post-crisis, including impaired resource allocation in the economy, the disproportionate impacts on some high productivity sectors, substitution of labour for capital, labour hoarding in the initial phase of the recession and measurement issues.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 25/02/2016 17:13:24 answering member 1526 label Biography information for Greg Hands
tabling member	116 label Biography information for Lord Soames of Fletching

428352

registered interest
date	16/11/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Productivity
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps the Government is taking to ensure that an approach supply of finance to productive investment is available to help increase productivity.
tabling member constituency	Leeds East
tabling member printed	Richard Burgon
uin	16397
answer	answer is ministerial correction date of answer 19/11/2015 answer text <p>The government is committed to boosting productivity growth and narrowing the gap with other leading advanced economies. In July 2015 the government published ‘Fixing the Foundations: Creating a more prosperous nation’; a comprehensive plan that sets the agenda to reverse the UK’s long-term productivity problem.</p><br /><p>The financial services sector has a dual role in supporting UK productivity. As well as its own productivity performance, it is critical for supporting the rest of the economy, allocating resources and facilitating long term productive investment. In the latest remit letter to the Financial Policy Committee of the Bank of England, the Chancellor highlighted the importance of a stable financial system providing finance for productive investment.</p><br /><p>To promote the provision of finance to support productive investment, it is important that it can be measured accurately. The Bank of England, working with HM Treasury, have initiated research to create a better measurement of ‘finance for productive investment’ covering all asset classes and all stages of finance, with a view to publishing the data on a regular basis.</p><br /> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 19/11/2015 16:48:39 answering member 1526 label Biography information for Greg Hands
tabling member	4493 label Biography information for Richard Burgon

427014

registered interest
date	09/11/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Productivity
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential effect of increasing the provision of export finance in productivity.
tabling member constituency	Feltham and Heston
tabling member printed	Seema Malhotra
uin	15551
answer	answer is ministerial correction date of answer 16/11/2015 answer text <p>Trade increases UK productivity by allowing firms to specialise in sectors in which the UK has a comparative advantage, and through exposure to new ideas and international competition.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 16/11/2015 16:02:26 answering member 1526 label Biography information for Greg Hands
tabling member	4253 label Biography information for Seema Malhotra

427015

registered interest
date	09/11/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Productivity
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how the British Business Bank will support UK productivity.
tabling member constituency	Feltham and Heston
tabling member printed	Seema Malhotra
uin	15388
answer	answer is ministerial correction date of answer 16/11/2015 answer text <p>The British Business Bank aims to make finance markets work better for smaller businesses. The Bank’s work improves productivity by encouraging investment and promoting a dynamic economy.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 16/11/2015 16:03:22 answering member 1526 label Biography information for Greg Hands
tabling member	4253 label Biography information for Seema Malhotra

426479

registered interest
date	05/11/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Productivity
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of proposed changes to (a) the student loans system and (b) maintenance grants on productivity.
tabling member constituency	Feltham and Heston
tabling member printed	Seema Malhotra
uin	15186
answer	answer is ministerial correction date of answer 10/11/2015 answer text <p>The government’s system of student support enables students to cover the costs of studying at university. At Summer Budget 2015, we announced that maintenance grants would be replaced by more generous maintenance loans and that we would consult on freezing the repayment threshold for loan repayments. These measures help create a financially secure Higher Education system, allowing the government to remove the student numbers cap and enable more students to go to university than ever before.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 10/11/2015 15:30:07 answering member 1526 label Biography information for Greg Hands
tabling member	4253 label Biography information for Seema Malhotra