1. Productivity Strategy
Eifion Jones

2. Investing in productivity & prosperity for all
Economic size of a major city
LEP: a partnership (incorporated as a CIC) across the public and private sectors, with a small core team and supported by LA colleagues.
To achieve mutual economic aims we:
Identify common priorities
Attract resources & investment
Make a difference to prosperity.

3. HotSW LEP Investments Main route for businesses to engage with the LEP57
4000
Total Growth Deal
Project Pipeline
Total projects
Business helped
Main route for businesses to engage with the LEP
800 businesses pointed to funded schemes

4. UK Productivity Growth Flat since 2008
20% lost productivity vs pre-crisis trend: translates directly into wages & living standards
UK Productivity Growth Flat since 2008
“Productivity isn’t everything, but in the long run it is almost everything. A country’s ability to improve its standard of living over time depends almost entirely on its ability to raise its output per worker.”
Paul Krugman
The Age of Diminishing Expectations
“We need to eat, drink and sleep productivity….”
Paul Drechsler CBE
President CBI

5. Productivity Strategy: Purpose
Local authorities, National Parks, Clinical Commissioning Groups and the LEP. Productivity Strategy to:
Align efforts & investment of local partners into raising productivity
sets up the interventions needed to raise productivity in the coming years
partnership to develop delivery plan
Focal point for engagement & negotiation with Government for investment and powers

6. World-class Capability
“Golden Opportunities”
Nuclear: sector deal
Aerospace & advanced engineering
Marine
Data analytics
Rural productivity
Health & care
World-class research capability
links with business
links to all areas
Very strong network of FE colleges
SW Rural Productivity Commission
Natural capital
Inclusive growth

7. Challenges Employment almost 80%: amongst the highest in Europe
Growth increasingly difficult to achieve by raising employment rates
Productivity can improve considerably
32nd
GVA per hour worked
1st
39th
Local variation
GVA = Gross Value Added. ‘Local’ equivalent of Gross Domestic Product

8. Challenges Ageing population 31st 33rd 37th Innovation
Spend on R&D per employee
1st
39th
33rd
Enterprise
Export intensive industries
Connectivity
Average download speeds
37th

9. Challenges
Skills
Higher skills levels

10. Productivity Strategy in a Nutshell

11. Productivity Strategy in a Nutshell

12. Natural Capital and Productivity
Importance of natural capital is clear – strong part of feedback & woven through Strategy
e.g. Upstream Thinking case study
Question for delivery: what does natural capital mean in a productivity context? E.g.
USP of the area to attract visitors/ businesses/ investors
key part of tourism offer
innovation
what is the relationship to Govt housing needs? Simplified/streamlined planning process to protect environment and enable housing delivery?
what does it mean to a business trying to raise their productivity?
how best to measure and monitor?
…..?
LNPs developing Natural Capital Advocacy document to take forward

13. Thank you