- UK Productivity Commission Priorities for 2023
The uncertainty regarding future terms of trade for UK businesses after the country left the EU single market certainly contributed to curbing the short-lived rebound in business investment that preceded 2016. However, it is hard to blame Brexit for what is essentially a structural feature of the UK economy. And the structural determinants of investment that relate to key productivity-enhancing components of investment (e.g. intangibles, public investment, ICT capital, R&D, venture capital) all need to be examined.