Chief Economist’s Weekly Brief

Screen shot of the Treasury website with details of the SPending Review 2015 on it

Underneath the Spending Review headlines was an old, but very important assumption – the UK gets more productive, and fast. Higher productivity means higher wages and thus tax receipts. There are signs of improvement but productivity has fallen short of expectations in recent years. (And Northern Ireland continues to lag the rest of the UK.) Will this time be different?

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