Why has the UK's productivity lagged behind that of its major Article

Why has the UKs productivity lagged behind that of its major competitors and what can be done to improve the productivity and competitiveness of the UK economy - Article ExampleA person such as the Exchequer Gordon Browns UK Chancellor, in his speeches, productivity is his important theme. However, despite the fact that UK is lagging, it is far much at the forefront in terms of labor and capital markets structural amendments. To come up to the analysis that UKs productivity is low, examination of the economys six sectors took place and the results indicated that its true that output was low. Those sectors examined are car production, retailing software, telecoms, food processing and hotels. McKinsey spheric Institute a global most highly regarded management consulting firm is the one that conducted the research regarding the matter.UK should address several issues to increase its output. One of the major concerns is change magnitude expenditure to boost high levels of research an d development and reducing diversion of resources towards the public sector which is less productive. It is vital for the state to increase its level of investiture despite the fact that the Crash of Lehman Brothers led damaged the countrys economy in the year 2008 because many other firms held off from investing in the modern, most efficient technology and processes. Businesses should enhance their levels of innovation, come up with good labor relations, improve their technology usage and adopt modern technology to discover that businesses stay for long in their field. The government should come up with extra reforms in its business regulations in order to boost investment thus change magnitude productivity of the