Enterprise and productivity

Productivity growth, alongside high and stable levels of employment, is central to long-term economic performance and rising living standards. Increasing the productivity of the Economy is a key objective for the Treasury. Read more on the government´s policy

The Government’s approach to improving the UK’s long-term productivity performance has two broad strands: maintaining macroeconomic stability to enable firms and individuals to plan for the future, and implementing microeconomic reforms to remove the barriers which prevent markets from functioning efficiently. These microeconomic reforms address historic weaknesses in areas that affect the rate of productivity growth.

Better regulation
Effective and well-focused regulation can play a vital role in correcting market failures, promoting fairness and increasing competition.
Competition
Strengthening competition to encourage firms to innovate, reduce costs and provide better quality goods and services to the consumer.
Enterprise
Promoting enterprise to encourage firms to innovate, reduce costs and provide better quality goods and services to the consumer.
Investment
Encouraging investment to improve the UK’s stock of physical capital in every sector and industry.
Productivity in the UK series
Productivity in the UK index
Public services productivity
Creating the right environment for business to raise productivity and greater efficiency.
Research and enterprise
Public sector research, economic performance, terms of reference, Baker report and Sir Gareth Robert's report.
Science and innovation
Supporting science and innovation to harness the potential of new ideas, technologies and working practices.
Skills
The quantity and quality of skilled labour available in an economy is an important determinant of economic performance and productivity growth.

Treasury Enterprise publications