Economy: Productivity

Lord Farmer Excerpts

Thursday 28th June 2018 Lords Chamber

[Lord Bates]

My noble friend Lord Heseltine undertook a review for the Government on competitiveness in 2012, which was a key part of what fed into our industrial strategy. The point that he made is that it is absolutely critical that we leverage our technical research and that innovation becomes a core part of what we do going forward. We totally accept that and recognise we need to do more. That is why R&D investment from the public sector is at its highest level for 30 years and why we are investing £4 billion in aerospace research and development; it is all to take forward those types of policies.

[Lord Farmer (Con)]

My Lords, is my noble friend aware of whether any quantitative Treasury analysis has been done on the effect of family breakdown and dysfunctional family relationships on productivity? If so, what conclusions were reached?

[Lord Bates]

First, I pay tribute to the work that my noble friend has done consistently to promote family as a key part of our society. We know the devastating effects that family breakdown can have on people’s health, well-being and educational opportunities. We have not conducted any piece of work in that specific area, but it is certainly something that I am prepared to look at and discuss with him further.