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Friday 26 November 2021

*UKHotViewsExtra* Technology skills are key to improving UK productivity

graphicLast week the Resolution Foundation and the Centre for Economic Performance at the London School of Economics (LSE) published a report on productivity in UK firms, the first in a series examining the readiness of the UK private sector for the challenges of the next decade. This first report can be accessed in full here.

It is widely understood that driving up productivity is fundamental to continued improvements in living standards. And yet the UK continues to perform badly against other major economies on productivity measures. The report explores the reasons for this poor performance and examines how policies to remedy it can best be targeted.

Ultimately the success or otherwise of UK efforts to increase productivity will depend on the extent to which innovation and adoption of new technologies can be encouraged. There are a variety of ways in which both government and private sector can stimulate the required investment - but one of the most essential tasks must surely be to equip young people with the education and training they need to pursue careers in STEM subjects, including IT.

TechMarketView has long advocated action to address the country's IT skills shortage, for example in our coverage of the March 2021 Learning & Work Institute report on that topic. The Resolution Foundation/LSE report brings a welcome new dimension to the skills debate and we cannot fail to draw a clear conclusion: unless the UK can train more young people in IT and other STEM skills and encourage them into careers in those sectors, continued improvements in our living standards will become harder to achieve. It is imperative that both government and the private sector take action.

HotViewsExtra subscribers can read a more detailed analysis of the Resolution Foundation/LSE report and our views on its links to IT skills here.

Posted by Tania Wilson at '08:41' - Tagged: skills   productivity   start-up