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ONS Productivity Stats response from Paul Marston, RateSetter Business Finance PDF Print E-mail
Thursday, 06 April 2017
Commenting on the latest productivity statistics produced by the Office for National Statistics, Paul Marston, Managing Director Commercial Finance at RateSetter Business Finance said:   "The latest ONS productivity statistics are disappointing chiefly because they show that the overall situation remains virtually unchanged. Labour productivity between Q3 and Q4, 2016, did improve slightly, but the gap between the performance of the UK and other members of G7 - specifically the US, Germany and France - remains stubbornly large. We continue to lag behind by well over 20% in each case."

"The latest report from the BBA confirmed that, despite low interest rates and a higher proportion of loan applications being approved, bank lending to SMEs is falling. The situation for non-bank lending is very different, as evidenced by the fact that RateSetter Business Finance recently passed the £400m mark in loans to smaller businesses. We are making a positive contribution to the fight against low productivity in the UK by supporting good, ambitious businesses which are keen to invest for growth."

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