Failure to adopt existing technologies leading to big disparities in productivity and pay among firms
Low take up of readily available technologies and management practices is fuelling the deep-seated productivity problems the UK has faced in recent decades. The striking productivity differences between businesses leads to variations in wages, opportunities and living standards for people across the UK.
With the Budget fast approaching and just a week since the Prime Minister laid down the challenge to UK business to invest more in innovation, the CBI sets out one of the single most effective routes to achieving just that – the diffusion of technology. It is for the Government to build the ecosystem that will encourage greater investment and for British businesses to act and make the most of these opportunities.