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The Chancellor has published “Fixing the Foundations: Creating a more prosperous nation”, a comprehensive plan that sets the agenda for the whole of government over the parliament to reverse the UK’s long-term productivity problem and secure rising living standards and a better quality of life for our citizens.
Secretary of State for Business, Sajid Javid, launched the plan at a Speech at Birmingham, saying: “Narrowing this gap is a prize worth striving for. For instance, matching the productivity of the US would raise GDP by 31%, equating to around £21,000 per annum for every household in the UK. The government’s framework for raising productivity includes 15 key areas, built around two pillars: first, encouraging long term investment, and secondly, promoting a dynamic economy”.
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