The Economics Show Why is Britain’s government so inefficient? With Jeremy Hunt
Nov 25, 2024
Former UK Chancellor of the Exchequer, Jeremy Hunt, delves into the intriguing world of government efficiency. He discusses the complexities behind public sector productivity, particularly within the NHS, and the hurdles of measuring success without traditional pricing mechanisms. Hunt highlights the political landscape's role in reforming public services and emphasizes the need for innovative solutions amidst rising demands. He also touches on pension reforms and the potential benefits of making pension pot portability the default choice for individuals.
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Department of Government Efficiency
- To improve government efficiency, consider establishing a Department of Government Efficiency.
- Appoint a leader with a strong tech background, like Demis Hassabis, to drive innovation.
Measuring Public Sector Productivity
- Measuring public sector productivity is challenging because, unlike the private sector, there are no prices to measure output.
- The UK likely measures it better than many countries, considering output beyond just employment numbers.
Benefits of Efficiency Savings
- Increased productivity can either lower spending or enhance service quality.
- History suggests enhanced quality is more likely; clarity on goals is crucial.