Despite holding £1.9 trillion in financial wealth, the UK has failed to invest in its future, leaving a generation stuck with 20-year-old productivity and pay, say Andrew Allum and Jack Duckworth

When Warren Buffett announced his retirement last month, he had created many billions, and many memorable quotes such as “Someone’s sitting in the shade today because someone planted a tree a long time ago”. In the UK, it seems we lost the habit of planting these metaphorical trees more than 20 years ago.

Governments want growth (to service the national debt), whereas individuals want growth per capita – or more precisely, growth in GDP per hour worked – so we can foresee earning a better living in fewer hours. So the measure of focus should be Labour Productivity: GDP per........

© City A.M.