2005 OECD Economic Surveys: United Kingdom 2005

image of OECD Economic Surveys: United Kingdom 2005

This 2005 survey of the United Kingdom's economy examines the key challenges for translating resilient economic performance into faster growth in living standards.  In particular, it looks at housing supply, public services and infrastructure, pensions, childcare, the disability system, and raising skills. The special chapter covers raising innovation performance.

English Also available in: French

Key Challenges

Translating a Resilient Macroeconomic Performance into Faster Growth in Living Standards

Macroeconomic performance has been amongst the most resilient in the OECD over the last decade, but policy-makers currently face a slowdown in growth, in part caused by an overdue cooling of the housing market, as well as the need to reduce the government deficit. The former raises the issue of the risk of a more pronounced housing market correction as well the need to take measures to improve housing supply. The latter raises issues of how to raise efficiency in priority areas of public service provision more rapidly, particularly in health and education, as well as longer-term issues regarding pensions. However, the most important challenges relate to improving productivity performance, where international benchmarking suggests that priority areas for attention should be the general level of skills, innovation performance and transport infrastructure. While labour utilisation is generally high, there may be scope for further improvement by helping many of those currently claiming disability-related benefits to find work.

English Also available in: French

This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error