Yael Selfin, Head of Macroeconomics at KPMG in the UK, comments on announcement that the government is to invest in the UK’s education system.
Commenting on today’s announcements that the government is to invest in the UK’s education system, Yael Selfin, Head of Macroeconomics at KPMG in the UK, said:
"With productivity performance in the UK still faltering, investment in the education system is one of the most effective levers the Chancellor can pull to boost the UK's long-term prosperity. Our latest economic analysis shows the important correlation between the strength of a country's education system and its economic potential.
"According to our research, the UK 'could do better' trailing behind many of its peers on education attainment with literacy, numeracy and also broader employability skills not at the level they need to be.
"Today's announcement shows that Osborne has read his school report. The challenge now will be to ensure the UK has a long-term sustainable plan for education. This will have important immediate social benefits but will also, from an economist's perspective, strengthen the UK's future financial health."
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