And Finally

Bank Of England head compares UK productivity to Jake Bugg for some reason

By | Published on Friday 30 August 2013

Jake Bugg

The new Governor of the Bank Of England, Mark Carney, has compared UK productivity over the last eight years to Jake Bugg, claiming that the teen singer-songwriter has been a lot more successful that the country as a whole in that time.

This soundbite came during Carney’s first speech as Governor, which took place in Nottingham yesterday. Because Jake Bugg is from Nottingham. But so is Bruce Dickinson, and he owns a fucking airline, so I’m not sure why Carney’s looking to Bugg for inspiration.

Anyway, Carney said in his speech: “The UK is no more productive than it was back in 2005. And to put it in context, that was before Nottingham’s own Jake Bugg got his first guitar and since then, as you know (I know), he’s had a number one record and a string of very successful gigs. He’s become a lot more productive, and the critical question is how much more, and how quickly can productivity improve across the broader economy”.

Of course, while Jake Bugg may have become more productive, the quality of his work is of such a low standard that it risks reducing repeat orders from foreign exporters across the board, so I’m not sure we should be taking too much of a lead from him.

Watch a clip of Carney talking Bugg here: