Covid crisis changing the structure of UK economy, Bank of England chief says

Andrew Bailey hails vaccine developments, saying success could trigger investment surge

Recent vaccine developments have signalled light at the end of the Covid-19 tunnel and could be the trigger for a post-crisis surge in investment, the governor of the Bank of England has said.

Andrew Bailey hailed the results of clinical trials by Pfizer/BioNTech and Moderna as encouraging and said the prospect of treatments for the virus would remove a key source of uncertainty that had held back capital spending.

Productivity is an economic measure of the efficiency of a workforce. It typically measures the level of output per hour of work, or per worker.