LONDON, Feb 23 (Reuters) – British corporate sectors that once drove national productivity growth have fallen behind the global leaders and the government’s strategy for improvement must be hard-edged, the Boston Consulting Group, a consultancy, said on Monday.
Policymakers should encourage “creative destruction” of firms that are barely surviving and help workers to move to higher-growth areas, BCG said in a report.
Successive British governments have sought to fix the country’s weak productivity record. Prime Minister Keir Starmer has promised to reform planning rules and invest more in infrastructure.
BCG said in its report:
(Writing by William Schomberg)
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