@techreport{5f4c658a15e847db90d6c450faaf65fe,
title = "A new UK policy institution for growth and productivity - a blueprint",
abstract = "Addressing the UK{\textquoteright}s productivity problem requires increased long-term investment in physical, human and intangible capital, and a new Growth and Productivity Institution (GPI) would help to ensure that the appropriate policies are in place to achieve this. Such a body, placed on a statutory footing to ensure it survives political churn, would provide independent expertise and credibility to shape effective, coordinated and lasting pro-productivity policy. Through conducting inquiries into key areas, monitoring and evaluating policy, and regular reporting to Parliament, combined with extensive stakeholder consultation, coordination and communication, a new GPI would help with the politics of making difficult decisions where positive outcomes are likely to be felt over the long term. Experiences setting up similar institutions in other advanced economies, and independent institutions in other areas of policy in the UK provide lessons for the design of a new GPI in the UK.",
keywords = "Productivity, Economic policy, Economic growth, Institutions",
author = "Anna Valero and {van Ark}, Bart",
year = "2023",
month = nov,
language = "English",
series = "The Productivity Agenda",
publisher = "The Productivity Institute",
pages = "112--124",
address = "United Kingdom",
type = "WorkingPaper",
institution = "The Productivity Institute",
}