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 five areas that affect the rate of productivity growth:

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.
Science and innovation
Supporting science and innovation to harness the potential of new ideas, technologies and working practices.
Investment
encouraging investment to improve the UK’s stock of physical capital in every sector and industry; and working directly to improve public services productivity .

Treasury Enterprise publications