1st December 2017.

Watchdog Calls For Productivity Focus

The Government’s fiscal watchdog has downplayed the significance of the EU divorce bill, stressing that the Government should be focusing more on UK productivity and economic growth.

An official from the Office for Budget Responsibility (OBR) has called Britain’s EU divorce bill “insignificant” compared to the more important issue of the UK’s growth prospects.

Robert Chote, boss of the Office for Budget Responsibility, warned MPs that it was easy to become fixated on the exact settlement agreed with Brussels, rather than the bigger picture.

The bill is expected to be between €45 billion and €55 billion, but the financial watchdog sees the payment as far from the most important aspect of Brexit.

Chote insists that what matters is the impact on the economy and most importantly how to boost UK productivity which has been lagging.

“I think it is very important to realise that the big issue economically for the British economy is productivity, it is not coming from the Brexit assumptions or anything like that”, he added.

Poor productivity growth has afflicted developed economies across the world, so Chote admits it’s hard to pin down precisely why growth has been so slow and how to fix it.

“You can overdo it by focusing on particularly UK-specific explanations of this, there is a lot more going on,” he said.

The Credit Protection Association supports Robert Chote’s emphasis on productivity. While the divorce bill remains a source of great debate, our domestic economy is still in need of attention. Issues such as rising inflation and the declining productivity are impacting our economy, and will only further exacerbate when/if a trade deal is reached. Individuals and businesses can prepare for the fallout by paying attention to household and corporate spending, and please seek advice from CPA if you need to free up cash flow.

 The Credit Protection Association is a credit management company established in 1914. If you supply goods or services on credit then we can help you!

See all our latest news here!

Keep up to date with the latest news by following us on social media:-

CPA on Linkedin

CPA on facebook

CPA on twitter

Watch the video to find out how CPA can help you!

How to overcome 25 of the most common excuses for non-payment

Click the image to discover step by step advice on how to deal with them!

 

 

 

 

 

Discover how to improve your cashflow in 3 steps.

Click the image to find our answer to the question “How can you get paid on time?”

 

 

 

 

Read our blog – Debt collection agency

Read our Cash Flow Advice

Read about our overdue account recovery service

Read our blog – What is credit management?

Read our blog -What is a credit management company?

Read our blog -Credit Management that works!

Read our blog – How to select a debt collection agency

click to see read about our successes

Please call us on 0330 053 9263 to discuss how CPA can help your cashflow. Alternatively, either email us or use our contact form.

I consent to supplying my personal information that may be used for marketing purposes and agree with the privacy policy.