Spring Budget 2017: More needs to be done to address Britain’s productivity gap post Brexit

More to be done to address Britain’s productivity gap

Karen Briggs, UK Head of Brexit reacts to the Spring Budget.

1000

Also on KPMG.com

Giving her reaction to the Spring Budget, Karen Briggs, Head of Brexit at KPMG said: 

“With just days to go until the triggering of Article 50, and a transformative period for the British economy, Philip Hammond delivered a Budget that barely mentioned Brexit. This was perhaps to be expected given the chancellor’s need to transmit confident signals to the marketplace. 

“I was pleased to see some measures to get Britain ‘Brexit fit’ in announcements around funding for schools, skills and training. However, if we’re going to build the sort of highly skilled, innovative, creative post-Brexit economy that we want, this investment will have to be significantly increased. More needs to be done to address Britain’s productivity gap and prepare us to compete on a global stage. Being the best skilled provides better security than any trade protection measure, so more imaginative thinking is needed to prepare our young people for a life of learning.  

“So while the Spring Budget was ‘steady as she goes’, I expect a more radical Autumn Budget, one that builds on a summer of consultations and green papers to inject new pace into the education and skills agenda. The business community want to help government so I’m confident a public and private sector partnership can be established to get Britain Brexit ready.

Ends

Follow us on twitter:

@kpmguk #SpringBudget

www.kpmg.com/uk/springbudget2017

For further information please contact:

Paul Middleton, Corporate Communications Senior Manager at KPMG

T: +44 (0) 20 7694 2180

E: paul.middleton@kpmg.co.uk

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 13,500 partners and staff.  The UK firm recorded a revenue of £2.07 billion in the year ended 30 September 2016. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 152 countries and has 189,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such. 

Connect with us

 

Request for proposal

 

Submit

KPMG’s new-look website

KPMG has launched a state of the art digital platform that enhances your experience and provides improved access to our content and our people, whatever device you are on.