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UK Government Productivity Plan

The Secretary of State announced the publication of the Government’s Productivity Plan. Although HMT led on this document, teams in BIS have made substantial contributions to it. The plan sets out a fifteen point plan for improving UK productivity.

 

Long Term Investment

  1. An even more competitive tax system, bringing business and investment to Britain
  2. Rewards for saving and long-term investment
  3. A highly skilled workforce, with employers in the driving seat
  4. World-leading universities, open to all who can benefit
  5. A modern transport system, with a secure future
  6. Reliable and low-carbon energy, at a price we can afford
  7. World-class digital infrastructure in every part of the UK
  8. High-quality science and innovation, spreading fast

 

Dynamic Economy

  1. Planning freedoms and more houses to buy
  2. A higher pay, lower welfare society
  3. More people with a chance to work and progress
  4. Financial services that lead the world in investing for growth
  5. Open and competitive markets with the minimum of regulation
  6. A trading nation, open to international investment
  7. Resurgent cities, a rebalanced economy and a thriving Northern Powerhouse

As you can see this plan covers a wide range of policies that BIS delivers. While many of the main reforms were already announced at Budget, the Productivity Plan does include new announcements relevant to BIS, including;

  • Plans to simplify and streamline professional and technical qualifications
  • A new Teaching Excellence Framework for higher education
  • An ambition to increase universities income from collaboration with industry to £5bn by 2025
  • A plan to introduce principles for consumer switching to improve engagement in markets like energy and communications

In his speech the Secretary of State highlighted the importance of productivity and picked out three key areas of the Productivity Plan; investment in transport, planning reforms and reforms to further education. He finished by highlighting the important role business has to play in improving UK productivity.

 

Please Click Here to See The Full Productivity Plan