Alliance Manchester Business School to host new £32m Productivity Institute
Alliance Manchester Business School has announced plans to host a new £32 million Productivity Institute funded partially by the ESRC.
The new Productivity Institute, which will be funded by £26 million from the Economic and Social Research Council (ESRC) and £6 million from The University of Manchester’s Alliance Business School and its partner institution for a period of five years, is set to launch on 1 September 2020.
Amanda Solloway, Science Minister for the UK government, announced the development and said: “Improving productivity is central to driving forward our long-term economic recovery and to ensure that we level up wages and living standards across every part of the UK.
“The new Productivity Institute and LSE’s innovative research will bring together the very best of our researchers, boosting our understanding of the different drivers of productivity and helping people and businesses produce and earn more in every area of our economy.”
ESRC is part of UK Research and Innovation, which is mainly funded by the British government’s Department for Business, Energy & Industrial Strategy (BEIS).
The announcement noted that Alliance Manchester Business School was chosen as the lead institution because of its “extensive background in business engagement and developing world-class economic research that informs public policy”.
Professor Bart van Ark, Chair in Productivity Studies at Alliance Manchester Business School, will lead the new institute as its Managing Director, and will be supported by over 40 co-investigators who are world-renowned experts in their fields.
Productivity Institute will see Alliance Manchester Business School collaborate with eight UK institutions
Alliance Manchester Business School has revealed that the Productivity Institute will be partnering with eight other institutions across the UK “in a bid to help policy and business leaders across the UK understand how to improve productivity and living standards as the economy begins to recover from the impact of COVID-19.”
The eight collaborating HEIs will be University of Cambridge, the National Institute of Economic and Social Research, University of Glasgow, University of Sheffield, King’s College London, Queen’s University Belfast, Cardiff University, and University of Warwick.
Reflecting on the development, Professor Dame Nancy Rothwell, President, and Vice-chancellor of the University of Manchester said: “This is a landmark investment by the government. It demonstrates how serious the government is about solving the UK’s productivity puzzle and importantly, it signals a commitment to help create an economy that works for everyone, with growth that is sustainable, inclusive, and regionally distributed.”
Eight Regional Productivity Forums to be created
The Productivity Institute at Alliance Manchester Business School disclosed that it will develop “its research agenda and practical business interventions through a programme of regional engagement with policymakers and business leaders from firms of all sizes as well as bodies like HM Treasury, BEIS, and the CBI.”
Eight Regional Productivity Forums across the country will also be created in order to work with businesses and policymakers on critical productivity issues in the regional context, and a national Policy Reform Group will be formed to work with policymakers on productivity aspects of nation-wide policies.
Pic: Dianne Connah/The University of Manchester
Emaido Affia is a Nigeria-based reporter for Global Education Times who covers stories from North America, MENA and Africa for the publication. Emaido is an experienced journalist and is also a lifestyle blogger in her free-time.