Britain’s Trickiest Economic Challenge Is Back in the Spotlight
- Weak productivity has plagued the U.K. since financial crisis
- Recent paper suggests it should be part of BOE framework
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Eclipsed by Brexit headlines, the most puzzling economic problem facing Britain is back in the limelight.
Abysmal productivity growth has plagued the U.K. for a decade, sapping its underlying strength and undermining wage growth. Countless explanations and solutions have been proffered, and now the debate is raging again after a proposal that fixing it be made one of the Bank of England’s core tasks.