The UK's productivity problem and how to solve it
The UK and the construction industry faces a productivity crisis. Lagging behind international benchmarks means that British workers have to work more than their German, French and Italian counterparts.
Investment in new infrastructure and transport links as part of the upcoming industrial strategy, should help to improve regional growth and productivity for the UK as a whole. We estimate that by shaving a minute off journey times to key services outside of London could lead to an economic boost of £3.4bn to the economy, plus the associated productivity benefits.
With the delivery and construction of major schemes so important to the productivity of many Western countries, the industry charged with delivering them must address its own productivity problems so that the benefits can be felt quicker, more efficiently and of more value to the public and clients.
This report makes the case for infrastructure investment as part of an industrial strategy, sets out the productivity problems and proposes some potential solutions for the Government, the construction sector and private developers to consider.
