Question 4: Which of the following policies would be your second choice of policy to boost private sector productivity, in addition to or absent your first choice?
Answer:
Tax and subsidy policies
Confidence level:
Confident
In the last two questions you are asked which government policies are best suited to help the UK emerge from its productivity growth slowdown. Question 3 asks for your most preferred policy option, while question 4 asks for your second choice. You may use the comment section to outline specific policy recommendations.
Question 3: Which of the following policies would best help improve private sector productivity?
Answer:
Investments in human capital including education and job retraining
Confidence level:
Confident
Question 2: Which of the following was the second most important cause for the slowdown in UK productivity growth?
Answer:
(Insufficient) investment in research and development
Confidence level:
Confident
Question 1: Which of the following was the most important cause for the slowdown in UK productivity growth?
Answer:
Human capital including education and employee skills
Confidence level:
Confident
Comment:
The UK's low productivity in the decade since the financial crisis by is driven a confluence of predominantly supply-side factors, of which the skills mismatch is one of the most prominent. The slowdown was exacerbated, since 2016, by very weak investment caused by the protracted uncertainty about trading arrangements with the EU.
The CFM surveys informs the public about the views held by prominent economists based in Europe on important macroeconomic and public policy questions. Some surveys focus specifically on the UK economy (as the CFM is a UK research centre), but surveys can in principle focus on any macroeconomic question for any region. The surveys shed light on the extent to which there is agreement or disagreement among these experts. An important motivation for the survey is to give a more comprehensive overview of the beliefs held by economists and in particular to include the views of those economists whose opinions are not frequently heard in public debates.
Questions mainly focus on macroeconomic and public policy topics. Although there are some questions that focus specifically on the UK economy, the setup of the survey is much broader and considers questions related to other countries/regions and also considers questions not tied to a specific economy.
The surveys are done in collaboration with the Centre for Economic Policy Research (CEPR).
The UK Productivity Puzzle
Question 4: Which of the following policies would be your second choice of policy to boost private sector productivity, in addition to or absent your first choice?
In the last two questions you are asked which government policies are best suited to help the UK emerge from its productivity growth slowdown. Question 3 asks for your most preferred policy option, while question 4 asks for your second choice. You may use the comment section to outline specific policy recommendations.
Question 3: Which of the following policies would best help improve private sector productivity?
Question 2: Which of the following was the second most important cause for the slowdown in UK productivity growth?
Question 1: Which of the following was the most important cause for the slowdown in UK productivity growth?
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