Britain’s businesses have a long way to go to get “match fit” for Brexit, according to productivity tsar Sir Charlie Mayfield, despite a marked improvement in output over the past two quarters.

The John Lewis Partnership chairman, who set up Be the Business, a group of high-ranking bosses seeking to address the woeful productivity performance, said a 10-year resurgence was needed to make up for a decade of stagnation.

“Brexit does make this more urgent,” Mayfield said. “We are going to be competing in the world more than we were previously. Our ability to do that is going to depend on our ability to drive productivity forward.”

At its board meeting tomorrow — hosted by Bank of England governor Mark Carney — Be the Business