Reeves: Productivity inherited weaker than we thought

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Chancellor of the Exchequer Rachel Reeves says the economic productivity inherited from the previous Conservative government is "weaker than previously thought". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

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00:00Alongside the Budget this month, the Office of Budget Responsibility, the UK's public

00:05finance watchdog, will set out the conclusions of their review of the supply side of the

00:10UK economy.

00:12I will not pre-empt those conclusions, but it is already clear that the productivity

00:17performance that we inherited from the last government is weaker than previously thought.

00:23A less productive economy is one that produces less output per hour worked.

00:27That has consequences for working people, for their jobs and for their wages.

00:34And it has consequences for the public finances too.

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