UK business groups urge new government goals to hike productivityStaff Writer | April 18, 2017
Business groups are urging the UK government to be bold in its industrial policies to tackle the UK's long-term structural weaknesses.
Britain Ministers should set measurable goals
On the final day of consultation on its industrial strategy, the Confederation of British Industry (CBI) and manufacturers' organisation EEF laid out business demands.
The CBI said there should be a target to reduce the productivity gap between the worst and best performing regions by 15% by 2030.
It wants the government to commit to setting other targets that will measure the success of the new strategy.
These would include income levels, employment rates, income distribution and how economic activity is dispersed across the country.
The government was urged to appoint an independent commissioner to ensure all regions of the UK have appropriate levels of devolution to deliver the strategy.
It was also called on to build a UK2030 brand to energise and unite the public and private sectors towards success, and establish an independent monitoring body to measure progress against specific performance targets. ■