BIS committee set to investigate productivity plan

The governments recently announced productivity plan is the subject of a new inquiry from the Business, Innovation and Skills (BIS) select committee.

The productivity plan, titled Fixing the foundations: Creating a more prosperous nation covers a wide range of areas, including the tax regime for businesses, skills, science and innovation, digital infrastructure and investment and trade.

Most notably, the plan also outlines the government’s ambition to create 3m new apprenticeships by 2020.

The inquiry – the committee’s first of the new Parliament explores whether the productivity plan addresses the main causes of low productivity in the UK and whether it is likely to achieve its desired results.

The committee is made up of eleven politicians; including Labour MP Iain Wright who is chairman of the committee. Wright hopes to uncover whether the conservatives plan effectively tackles the productivity gap.

‘‘Productivity is the pressing economic challenge of this Parliament and tackling the productivity gap is crucial to the UK’s economic competitiveness and to improving workers’ living standards.’’

‘‘As a Committee we will keep a determined focus on scrutinising investment, regulation, innovation and skills policies designed to boost productivity.’’

‘‘Launching this inquiry marks the start of the Committee playing a constructive role in assessing the Government’s Productivity Plan and ensuring it delivers meaningful results for the UK economy,’’ concluded Wright.

The new committee also wants to hear from the general public regarding the productivity plan. If you’re interested in doing so, you can answer a variety of questions put forward by the committee.