Outcomes

This section looks at the high level indicators that measure how successful the UK has been in achieving competitiveness and delivering prosperity. The key measures are:

•     Macroeconomic stability – macroeconomic instability affects
      business confidence and can have a negative effect on
      investment and long term planning decisions.
  
  
•     Output per head – GDP – total profits and wages - per head
      provides the best measure of overall economic performance.
  
  
•     Labour productivity – the key determinant of long-term
      prosperity.
  
  
•     Employment rate – a successful and sustainable economy
      should have the capacity to generate jobs for the workforce.
  
  
•     Quality of life – a goal in itself but also a key determinant of
      economic performance and an important factor in
      competitiveness.
  
  
•     Specialisation – measures of output or trade specialisation
      provide a measure of the extent to which the UK is developing
      competencies in higher value added, or more productive,
      activities.