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1520401
registered interest false more like this
date less than 2022-10-11more 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