Britain's productivity puzzle
The Briefing Room
00:00
The Impact of Thatcher on Growth
Missus thatcher had a quite mixed impact on growth. On the one hand, she pushed through new policies to improve efficiency and raise productivity. But he tells me her government went on to have a very damaging effect on our labor productivity in the longer term. Take the notorious public spending goods. The way in which the thatcher government set about restoring public finances made a really dramatic cut in introstructure investment as part of that. And we've never, probably ever recovered from that.
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