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1520400
registered interest false more like this
date remove maximum value filtermore like thismore than 2022-10-11
answering body
Treasury more like this
answering dept id 14 remove filter
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Productivity remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what analysis he has commissioned on potential productivity of the UK. more like this
tabling member constituency Gordon more like this
tabling member printed
Richard Thomson more like this
uin 61385 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-10-19more like thismore than 2022-10-19
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>
answering member constituency Kensington more like this
answering member printed Felicity Buchan more like this
grouped question UIN 61386 more like this
question first answered
less than 2022-10-19T14:53:42.12Zmore like thismore than 2022-10-19T14:53:42.12Z
answering member
4821
label Biography information for Felicity Buchan more like this
tabling member
4796
label Biography information for Richard Thomson more like this
1520401
registered interest false more like this
date remove maximum value filtermore like thismore than 2022-10-11
answering body
Treasury more like this
answering dept id 14 remove filter
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Productivity remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what assessment he has made of the potential productivity of the UK. more like this
tabling member constituency Gordon more like this
tabling member printed
Richard Thomson more like this
uin 61386 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-10-19more like thismore than 2022-10-19
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>
answering member constituency Kensington more like this
answering member printed Felicity Buchan more like this
grouped question UIN 61385 more like this
question first answered
less than 2022-10-19T14:53:42.167Zmore like thismore than 2022-10-19T14:53:42.167Z
answering member
4821
label Biography information for Felicity Buchan more like this
tabling member
4796
label Biography information for Richard Thomson more like this
1180345
registered interest false more like this
date less than 2020-02-25more like thismore than 2020-02-25
answering body
Treasury more like this
answering dept id 14 remove filter
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Productivity remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, for what reasons the UK is ranked fifth in the comparative productivity levels of G7 countries; and what steps his Department is taking to ensure that the levels of productivity in rural and urban communities in the UK are equal. more like this
tabling member constituency North Cornwall more like this
tabling member printed
Scott Mann more like this
uin 20527 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2020-03-04more like thismore than 2020-03-04
answer text <p>We recognise that UK productivity is lower than some of our peers. But we must also recognise that we have a number of strengths that we should continue to build on. We are the world’s fifth largest economy. We have many of the best universities on earth, are one of the most attractive places in the world to do business and lead in many 21st-century technologies and innovations. Closing our productivity gap, which exists compared to other nations but also between regions in the UK, will be vital in unleashing the UK’s potential.</p><p> </p><p>We are committed to levelling up opportunity across all places in the UK. This means making sure that prosperity is shared across all our towns and cities. So far, we have announced a £5bn package of investment for buses and cycling, opened up a consultation on Freeports, and we’ve confirmed that we will proceed with HS2 to deliver essential North-South connectivity, greater capacity, and shorter journey times.</p> more like this
answering member constituency North East Cambridgeshire more like this
answering member printed Steve Barclay more like this
question first answered
less than 2020-03-04T15:53:14.057Zmore like thismore than 2020-03-04T15:53:14.057Z
answering member
4095
label Biography information for Steve Barclay more like this
tabling member
4496
label Biography information for Scott Mann more like this
1177680
registered interest true more like this
date less than 2020-02-11more like thismore than 2020-02-11
answering body
Treasury more like this
answering dept id 14 remove filter
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Productivity remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, with reference to the findings of the Industrial Strategy Council's research paper, UK Regional Productivity Differences: An Evidence Review, published in February 2020, what steps he is taking to tackle the UK's regional productivity gap. more like this
tabling member constituency Barnsley Central more like this
tabling member printed
Dan Jarvis more like this
uin 540 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2020-02-24more like thismore than 2020-02-24
answer text <p>So far, we have announced a £5bn package of investment for buses and cycling, opened up a consultation on Freeports, and we’ve confirmed that we will proceed with HS2 to deliver essential North-South connectivity, greater capacity, and shorter journey times. We will also continue to deliver on our ambitious levelling up agenda, including through the upcoming Budget.</p> more like this
answering member constituency North East Cambridgeshire more like this
answering member printed Steve Barclay more like this
grouped question UIN 541 more like this
question first answered
less than 2020-02-24T17:32:55.17Zmore like thismore than 2020-02-24T17:32:55.17Z
answering member
4095
label Biography information for Steve Barclay more like this
tabling member
4243
label Biography information for Dan Jarvis more like this
1177681
registered interest true more like this
date less than 2020-02-11more like thismore than 2020-02-11
answering body
Treasury more like this
answering dept id 14 remove filter
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Productivity remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what fiscal steps he is taking to ensure long-term equity of national productivity throughout the UK. more like this
tabling member constituency Barnsley Central more like this
tabling member printed
Dan Jarvis more like this
uin 541 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2020-02-24more like thismore than 2020-02-24
answer text <p>So far, we have announced a £5bn package of investment for buses and cycling, opened up a consultation on Freeports, and we’ve confirmed that we will proceed with HS2 to deliver essential North-South connectivity, greater capacity, and shorter journey times. We will also continue to deliver on our ambitious levelling up agenda, including through the upcoming Budget.</p> more like this
answering member constituency North East Cambridgeshire more like this
answering member printed Steve Barclay more like this
grouped question UIN 540 more like this
question first answered
less than 2020-02-24T17:32:55.233Zmore like thismore than 2020-02-24T17:32:55.233Z
answering member
4095
label Biography information for Steve Barclay more like this
tabling member
4243
label Biography information for Dan Jarvis more like this
1177518
registered interest false more like this
date less than 2020-02-10more like thismore than 2020-02-10
answering body
Treasury more like this
answering dept id 14 remove filter
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Productivity remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what assessment he has made of trends in the level of UK productivity between 2009 and 2019. more like this
tabling member constituency East Londonderry more like this
tabling member printed
Mr Gregory Campbell more like this
uin 14629 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2020-02-13more like thismore than 2020-02-13
answer text <p>Labour productivity in the UK is just 2.4% above its pre-crisis peak. Productivity growth has slowed globally since the crisis but in the UK this slowdown has been more pronounced - across the G7 productivity growth has slowed from 1.9% per year in the decade to 2007 to just 0.8% since. In the UK, by comparison, it has fallen from 2.3% pre crisis to 0.3% since. To level up growth we will continue to invest responsibly including increased investment in infrastructure - connecting the country and businesses by road, rail and broadband and committing to our target of 2.4% of GDP being spend on R&amp;D. We will also continue to invest in people – our greatest asset – levelling up skills and opportunity by creating a new national skills fund.</p> more like this
answering member constituency Middlesbrough South and East Cleveland more like this
answering member printed Mr Simon Clarke more like this
question first answered
less than 2020-02-13T12:41:57.263Zmore like thismore than 2020-02-13T12:41:57.263Z
answering member
4655
label Biography information for Sir Simon Clarke more like this
tabling member
1409
label Biography information for Mr Gregory Campbell more like this
1170750
registered interest false more like this
date less than 2020-01-14more like thismore than 2020-01-14
answering body
Treasury more like this
answering dept id 14 remove filter
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Productivity remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what assessment the Government has made of the effect of funding allocated from the public purse to education in each region on the level of productivity in those regions. more like this
tabling member constituency Haltemprice and Howden more like this
tabling member printed
Mr David Davis more like this
uin 3138 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2020-01-22more like thismore than 2020-01-22
answer text <p>When considering funding for public services, including education, the government considers a range of factors as a matter of course, including the impact on regional productivity. The Government is committed to uniting and levelling up, spreading opportunity across the whole of the UK - we are looking at how best to do this and I will set out more details in due course.</p> more like this
answering member constituency Middlesbrough South and East Cleveland more like this
answering member printed Mr Simon Clarke more like this
question first answered
less than 2020-01-22T17:04:02.783Zmore like thismore than 2020-01-22T17:04:02.783Z
answering member
4655
label Biography information for Sir Simon Clarke more like this
tabling member
373
label Biography information for Sir David Davis more like this
1148150
registered interest false more like this
date less than 2019-10-03more like thismore than 2019-10-03
answering body
Treasury more like this
answering dept id 14 remove filter
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Productivity remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what proportion of productivity growth can be attributed to financial technology in the last five years. more like this
tabling member constituency Woking more like this
tabling member printed
Mr Jonathan Lord more like this
uin 294159 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-10-08more like thismore than 2019-10-08
answer text <p>The government has not made an assessment of the proportion of productivity growth in the last five years that is attributable to financial technology.</p><p> </p><p>However, the Government has taken significant steps to increase competition in financial services, including creating an environment in which Fintech firms can grow and compete with incumbents. The Competition and Market Authority has led the Open Banking initiative, bringing more competition and innovation to financial services. The FCA has also established the Innovation Hub and Regulatory Sandbox to support Fintech, both of which are held up as global examples of best practice. Further information on the Government’s efforts to promote Fintech can be found in the Fintech Sector Strategy, published in March 2018.</p> more like this
answering member constituency Middlesbrough South and East Cleveland more like this
answering member printed Mr Simon Clarke more like this
question first answered
less than 2019-10-08T07:55:59.87Zmore like thismore than 2019-10-08T07:55:59.87Z
answering member
4655
label Biography information for Sir Simon Clarke more like this
tabling member
4090
label Biography information for Mr Jonathan Lord more like this
1127722
registered interest false more like this
date less than 2019-05-21more like thismore than 2019-05-21
answering body
Treasury more like this
answering dept id 14 remove filter
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Productivity remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text What fiscal steps his Department is taking to increase regional productivity. more like this
tabling member constituency Kingston upon Hull North more like this
tabling member printed
Diana Johnson more like this
uin 911025 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-05-21more like thismore than 2019-05-21
answer text <p>The Government is investing in every region to drive jobs and growth, with 3.5 million more people in work since 2010. <br></p><p>Investments include the £2.5bn Transforming Cities Fund and the Local Growth Fund which has invested over £12bn since 2015, including £141m in the Humber Local Enterprise Partnership.</p><p> </p><p>Over 60% of jobs have been created since 2010 have been in regions outside London and the South East.</p> more like this
answering member constituency Newark more like this
answering member printed Robert Jenrick more like this
question first answered
less than 2019-05-21T13:46:00.197Zmore like thismore than 2019-05-21T13:46:00.197Z
answering member
4320
label Biography information for Robert Jenrick more like this
tabling member
1533
label Biography information for Dame Diana Johnson more like this
1122001
registered interest false more like this
date less than 2019-04-18more like thismore than 2019-04-18
answering body
Treasury more like this
answering dept id 14 remove filter
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Productivity remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what estimate he has made of the level of increased productivity in the economy. more like this
tabling member constituency Hendon more like this
tabling member printed
Dr Matthew Offord more like this
uin 245761 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-04-30more like thismore than 2019-04-30
answer text <p>In the long run, the only way to ensure sustainable growth, higher wages and increases in living standards is through raising productivity. The latest data showing an increase in the level of productivity is welcome, however productivity growth remains a key challenge.</p><p> </p><p>The government is tackling this challenge head on; investing over half a trillion pounds in capital investment, cutting taxes for businesses, improving access to finance, increasing the National Productivity Investment Fund to £37bn at Budget 2018 and committing to reform technical education, such as the introduction of T-levels.</p> more like this
answering member constituency Newark more like this
answering member printed Robert Jenrick more like this
question first answered
less than 2019-04-30T07:46:33.35Zmore like thismore than 2019-04-30T07:46:33.35Z
answering member
4320
label Biography information for Robert Jenrick more like this
tabling member
4006
label Biography information for Dr Matthew Offord more like this