Executive Summary
Assessment and Recommendations
Chapter 1. Making the Most of Globalisation
-Recent Macroeconomic Performance and Outlook
-Fiscal Policy
-Globalisation has Contributed to Strong Productivity Growth
-Significant Challenges Remain
-Annex 1.A1. Progress in Structural Reform
Chapter 2. Raising Educational Achievement within a Tighter Budget Constraint
-Globalisation is Raising the Level of Skills Demanded in Advanced Economies
-Education Participation Rates are Low but Picking Up
-Education is an Important Tool for Spreading the Gains from Globalisation
-Government Policy Initiatives Have Focused on Sharpening Incentives and Higher Overall Spending
-Higher Spending on Education Does Not Automatically Improve Outcomes
-The Government Has Made an Effort to Increase Spending where the Return is Greatest
-Local Authorities Have Flattened the Distribution of Education Spending
-Other Analysis Also Suggests Room to Improve Education Spending Efficiency
Chapter 3. Improving Work Prospects for the Least Skilled
-Recent Labour Market Developments
-Policies to Improve Labour Market Outcomes for the Least Skilled
-Active Labour Market Policies
-Annex 3.A1. Migration Data
Chapter 4. Addressing the Productivity Gap
-Labour Productivity Growth has Slowed Down Slightly
-Restrictive Planning Regulations Hinder Productivity Growth by Limiting New Firm Entry
-Low Overall Product Market Restrictions but Growing Tax Complexities and Red Tape
-Is Investment in R&D and Adult Learning too Low?
Chapter 5. Tax Competition
-The UK Corporate Tax System in International Comparison
-How to Stay Competitive and Still Raise Revenue
-Summing Up
Glossary