Written question asked by Baroness McGregor-Smith (Non-affiliated) on Monday, 13 July 2026, in the House of Lords. It was due for an answer on Monday, 27 July 2026. It was answered by Lord Livermore (Labour) on Friday, 17 July 2026 on behalf of the Treasury.

Productivity

Question: To ask His Majesty's Government what reforms they anticipate will increase the UK’s long-term productivity growth above the assumptions used by the Office for Budget Responsibility's Economic and Fiscal Outlook, published on 3 March; and by how much they expect each reform to contribute.

Answer

The Office for Budget Responsibility (OBR) produces its forecasts independently and is responsible for the assumptions underpinning them.

The OBR’s March forecast incorporates the impacts of government policies announced to date, including impacts on the supply side of the economy, where these meet relevant OBR criteria.

The government is committed to going further to deliver higher growth in the long term.

We have set out a strategy centred on economic stability, boosting public and private investment, and supply-side reform to raise productivity. This includes reforms such as the Planning and Infrastructure Act, the Industrial Strategy, pensions reforms to unlock investment, and the Growth and Skills Levy.

In her 2026 Mais Lecture, the Chancellor also set out three further priorities for raising the UK's long-term growth potential: empowering regional growth, embracing AI and innovation, and establishing a closer relationship with the European Union.

Secondary information

Type: Written question
Reference: HL2005
Session: 2026-27
Subjects: Productivity
Link: View this Written question on www.parliament.uk

Productivity

Secondary information

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