Productivity has tumbled, recording its most severe fall since the financial crisis of 2008.
With David Cameron facing calls to quit over the ‘Panama papers’, can it be long before George Osborne goes to the wall as well?
Britain has lurched further into its national productivity crisis, with hourly output at the end of last year registering its biggest quarterly fall since the 2008 financial crisis.
Productivity, the crucial statistical metric that underpins overall economic growth and sustainable increases in national living standards, fell by 1.2 per cent in the three months to December, the Office for National Statistics has confirmed.
That was the most severe fall since the final quarter of 2008, when the UK was in the grip of its most brutal economic downturn since the end of the Second World War.
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