John van Reenen, a professor of economics at the Massachusets Institute of Technology, said if the UK could not boost productivity growth, wages would not increase, tax receipts would not rise and austerity would continue. “Not very nice,” he added.
Read here the FT article https://www.ft.com/content/32ba93b0-8dcf-11e8-bb8f-a6a2f7bca546