UK productivity falls

The productivity of UK workers has fallen back to pre-financial crisis levels of 2007 a report by the Office for National Statistics (ONS) shows. Productivity has still not recovered to levels before the financial crisis.

Stagnation

Austerity measures, public sector pay, government spending all become much more difficult if the wealth creation is stalling in the UK. If our economy cannot continue to create wealth – tax receipts will fall and then there is less money to spend. Poor business performance and lower incomes suggest we may be heading for a stagnating economy.

After all the effort we have exported to repair the damage the financial crisis inflicted including:- austerity measures, low interest rates, quantitative easing and low inflation – and it still ain’t fixed!

How much of this worrying situation is down to BREXIT remains to be seen. But I clearly remember, about a year or so ago, things were beginning to look good again after years of austerity – and now, I’m just not so sure.

Where now?