Last week the Department for Business, Energy and Industrial Strategy published its Productivity Review. This comes off the back of a consultation launched last year that sought to look at what firms could do to support greater business efficiency and growth.
The CBI responded to the consultation at the time and the review highlights the CBI’s finding that boosting the productivity of the UK's SMEs to match that of Germany could add up to £100bn to the economy and improve the competitiveness of UK business. To help achieve this, the government has focused on improving businesses access to knowledge and best practice, workplace skills and supporting better self-assessment.
The review contains many CBI recommendations, chiefly from our ‘From Ostrich to Magpie’ report, including:
- The publication of a clear plan for increasing adoption of tested technologies and management best practice as a central theme within the Industrial Strategy
- Increased funding for Knowledge Transfer Partnerships.