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registered interest false remove filter
date less than 2019-09-03more like thismore than 2019-09-03
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Business more like this
house id 2 remove filter
legislature
25277
pref label House of Lords more like this
question text To ask Her Majesty's Government what assessment they have made of the report by the Bank of England The Brexit vote, productivity growth and macroeconomic adjustments in the United Kingdom, published on 27 August, which states that Brexit has so far caused UK productivity to fall by between two and five per cent, and business investment to fall by 11 per cent; and what steps they are taking to address declining productivity and business investment. more like this
tabling member printed
Lord Mendelsohn more like this
uin HL17668 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-09-09more like thismore than 2019-09-09
answer text <p>Productivity growth since the referendum has been 1.3%. The Bank of England analysis suggests slow productivity growth in the UK since the Brexit vote is due to a fall in investment, with a relatively insensitive response in employment.</p><p>We are tackling the UK’s productivity challenge head on to sustainably boost living standards in the long term for everyone. We have invested over half a trillion pounds in capital investment, cut taxes for businesses, improved access to finance, increased the National Productivity Investment Fund to £37bn, committed to reform technical education through T-levels and will be publishing our National Infrastructure Strategy this Autumn which sets out a plan for a step change in infrastructure investment.</p> more like this
answering member printed The Earl of Courtown more like this
question first answered
less than 2019-09-09T15:39:59.91Zmore like thismore than 2019-09-09T15:39:59.91Z
answering member
3359
label Biography information for The Earl of Courtown more like this
tabling member
4286
label Biography information for Lord Mendelsohn more like this