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1. Current state of competitiveness compared to other leading economies ¨ ‘94- ’96 : UK output capita = 100 by comparison to West Germany (126) and US (164) ¨ UK has lowest output per worker, per hour, and lowest capital and labour productivity in comparison to France Germany and the US ¨ Corresponds to 20-30% behind France/Germany and 40% behind US, despite British workers doing 9hrs more than their German and 5% more than their French counterparts ¨ Only 90% of British products pass quality control first time compared with Germany’s 97% (due primarily to poorly skilled workforce.
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