Productivity, and its growth, is important. It enables more to be created with less, supporting competitiveness, profitability and higher living standards.
The UK manufacturing sector has historically contributed significantly to whole economy productivity and it remains firmly at the top of the agenda for EEF members. But despite this strong performance, since 2008 – and in line with the whole economy average – manufacturing productivity has flat lined.
EEF, as the voice of UK manufacturing and a champion for the sector, has been outlining solutions to address this challenge for some time. While some economy wide solutions that have been enacted will support manufacturing, the economic debate has not yielded a definitive assessment and a new approach is needed to get to a manufacturing specific answer.