Britain is currently in the slowest economic recovery we have seen in over a hundred years. The British economy is around four per cent smaller than it was projected to be by the Office for Budget Responsibility’s forecasts of November 2010, and GDP per-person is yet to return to its pre-recession level.
A more productive economy will only be based on a broader contribution from firms and working people.
Supporting this broad range of firms and working people into higher productivity, higher value business models and jobs is the route to sustainable growth, living standards rising year-on-year, and bringing down the deficit.
That will require a new approach across our economy.