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Haldane will chair the Industrial Strategy Council, comprising
business leaders, academics and civil society representatives,
which will assess progress on Britain's industrial strategy.
"The industrial strategy is one of the most critical strands of
work taking place across government and has the potential to
raise living standards across the whole of the UK, boost
people’s earning powers and put the UK at the forefront of
future industries internationally," Haldane said in a statement.
Prime Minister Theresa May launched the strategy shortly after
the 2016 Brexit vote as part of her pledge to help workers who
have seen their earnings fall, when adjusted for inflation,
since the global financial crisis.
Workers in Britain are about 20 percent less productive than
their rivals in the United States, Germany and France and
productivity has barely grown since the crisis, in contrast to
growth of more than 2 percent a year before.
Haldane would chair the council in a personal capacity and did
not represent a new role for the BoE, the government said.
Haldane has spoken previously about an unusually wide gap
between Britain's most and least productive firms, something he
has linked to limited penetration of information technology,
poor management and board members with little experience of how
other companies operated.
(Reporting by William Schomberg; editing by Costas Pitas)
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