BOE’s Mann Says Underperforming UK Investment a ‘Concern’
- Official says investment heavily concentrated among big firms
- Weak business investment blamed for UK’s productivity woes
Catherine Mann
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Bank of England rate-setter Catherine Mann said that Britain’s lagging investment levels are a “concern” and that the economy is heavily reliant on a small pool of large companies and finance giants to bring in money.
Mann said that just 0.5% of UK firms account for half of business investment, which she said has “underperformed” when compared with other countries.