Hammond: We Have Productivity Problem in U.K.

The transcript discusses the UK's regional investment imbalance, focusing on the Northern Powerhouse strategy to boost productivity outside London. It highlights the need for infrastructure investment, both public and private, to improve productivity. The discussion also covers fiscal responsibility, emphasizing the need for targeted investments within fiscal constraints, especially in light of the economic uncertainty following Brexit.

What is one of the main issues affecting productivity in the UK?

• Regional disparity

• Lack of skilled labor

• High taxation

• Overpopulation

What is the Northern Powerhouse initiative primarily focused on?

• Improving transport infrastructure

• Reducing taxes in the north

• Building new housing

• Increasing exports

Which sector is responsible for a significant portion of infrastructure investment in the UK?

• Non-profit sector

• Private sector

• International sector

• Public sector

What is a key consideration for the UK when planning public spending?

• Reducing unemployment

• Maintaining fiscal rules

• Expanding the military

• Increasing the GDP

How has the Brexit decision impacted the UK economy?

• It has reduced the need for infrastructure investment

• It has caused a significant shock and uncertainty

• It has increased the UK's GDP

• It has led to immediate economic growth