Investing for Growth: boosting productivity through higher public and private investment

The causes of, and solutions to, the woeful productivity performance of the UK economy since the Global Financial Crisis has been the subject of much analysis in the last 15 years.  Is it just the result of an economy maturing, or is there something more underlying? And, does this slower growth really have to mean a fall in living standards?

With the UK investing less than advanced economies and its evolution to one that is dominated by service-based industries, this event draws on new work by Paul Fisher and Catherine Mann, as well as the evidence submitted to the UK Productivity Commission, to explore the vital role that both public and private investment should play, alongside some policy ideas that address the need for healthy, sustainable,  economic growth.

Paul Fisher

Paul Fisher served at the Bank of England for 26 years as a member of its Monetary Policy Committee, interim Financial Policy Committee and the board of the Prudential Regulation Authority, as well as on several international committees. He is currently the Chair of the London Bullion Market Association and a non-executive director of the UK Debt Management Office. He has affiliations as a visiting professor or fellow with a number of UK academic institutions including Warwick University Business School; the London Institute of Banking and Finance; Richmond, the American International University in London; Kings College Business School; and The Cambridge Institute for Sustainability Leadership

Catherine Mann

Catherine Mann is an external member of the Bank of England Monetary Policy Committee, current Professor of the Practice at Brandeis University  and former member of the advisory committees of the Federal Reserve Banks of Chicago, Boston, and New York. Prior to this he worked as a the Global Chief Economist at Citibank (2018 to 2021) and the Chief Economist, Head of Economics Department, and G20 Finance Deputy at the OECD (2014 to 2017). Her research is focused on international economic relationships and outcomes, including trade, finance, climate, productivity, and inequality

Sir Anton Muscatelli

Sir Anton is a member of the Scottish Government's Advisory Council on Economic Transformation. He has been a special adviser to the House of Commons Treasury Select Committee on monetary policy, and an adviser to the European Commission and the World Bank. Sir Anton has been Principal and Vice-Chancellor at the University of Glasgow since 2009. He is also Board Director of USS Ltd (Universities Superannuation Scheme), a member of the AHRC UKRI Creative Industries Advisory Group and chairs the Commission on Economic Growth for the Glasgow City Region and is a member of the Board of Glasgow Life. Sir Anton’s research interests are monetary economics, central bank independence, fiscal policy, international finance and macroeconomics.

Rachel Lomax 

Rachel Lomax was appointed as Deputy Chair of the British Council in December 2018. She is an economist who served as Deputy Governor of the Bank of England between 2003 and 2008. Previously she was permanent secretary of three government departments (Transport, Work and Pensions and the Welsh Office) and held senior positions at the World Bank, the Cabinet Office and the Treasury. Since 2008 she has held nonexecutive directorships at several companies, including HSBC Holdings where she was a senior independent director until 2017, as well as non-profit organisations, including the National Theatre and Imperial College. She also held directorship of Resolution Life  and has been on the board since 2019.