Part 9/11:
The host also highlights the importance of productivity in forging a path towards economic recovery. According to the OBR's forecast, productivity growth is a crucial driver for potential output growth, anticipated to hover around 1.5% between 2025 and 2029. The realities of productivity performance over recent years, however, reveal an ongoing struggle to meet such optimistic projections.
The stark reality is that for the UK to achieve these ambitious forecasts, significant strides in productivity must occur—an uphill battle given the current economic stagnation.