Why did productivity in the UK remained stagnant after 2007?

Up until 2007 productivity in the UK had been rising at a satisfactory level, however after that it remained stagnant until today. Evidence shows that if the UK’s pre-2007 trend had continued, productivity today would be more than 16% higher. One reason for the disappointing productivity figures is underinvestment. Investment in UK is 14-16% of GDP, which is relatively low in comparison with other European countries. That could be because companies find less profitable opportunities to invest in the aftermath of the global economic crisis that broke out in 2007-2008, as expectations are still negative. The crisis also left many firms in debts therefore businesses would use their funds in order to pay off their debts and not on investment. Additionally, the vote for Brexit contributed in the increase of uncertainty in the UK market, which held managers back from investing until the political situation of the country, is stabilised. This underinvestment lead to a slower production process as machines that are not replaced or updated break down, causing the output per hour to decrease thus the labour productivity to fall as well. That would also affect the country’s competitiveness as it increases costs of production reducing both the price and non-price competitiveness of domestic products. However, underinvestment might be considered a cyclical factor, as since the recession of 2007, business confidence is low due to the unsteady market conditions, given the time lag needed for the market to respond, and this problem may correct itself when the conditions are stabilised. 
Furthermore, another explanation for the stagnant productivity could be the poor business management. Most of the UK managers are known to be risk averse and reluctant to invest in technology that can be proven more efficient and therefore more productive because they fear that the subsequent increase in demand will not be enough in order to increase their profits or even cover their investment costs. Additionally, many British businesses are managed by family members; in fact 57% of UK independent small businesses are family run. Many of these members may be proven unsuitable for the manager’s position as they do not have the skills required to take correct decisions for the future of their companies and use their resources efficiently and that could have a deteriorating effect on their productivity. However, that problem existed before 2007 as well but the productivity of the country was still in a growing rate.