In this article
This report is from CNBC’s UK Exchange newsletter. Each Wednesday, Ian King brings you expert insights on the most important business stories from the U.K. and the key personalities shaping the news. Along with a deep dive into these top stories, the newsletter highlights key developments in the U.K. and essential events that are set to make waves. Like what you see? You can subscribe here.
Since the Global Financial Crisis, poor productivity has bedeviled the U.K. economy for various reasons, including regional disparities and over-dependence on London and the southeast of England.
Most economists agree, though, that the main factor has been low investment in skills and infrastructure.
In response, the last government devised the “Mansion House reforms” in July 2023, so-called because Jeremy Hunt, then chancellor of the Exchequer, announced them at the official residence of the Lord Mayor of London (the Lord Mayor, not to be confused with Sadiq Khan, the mayor of London, is head of the City of London Corporation, the Square Mile’s governing body).
