Is this the reason a once Great nation is slipping down the productivity table?

A report from the OECD states that in Great Britain literacy and numeracy levels in the 16 – 24 year old age bracket are lower than that of 55 – 65 year olds.  It also states that 25% of adults have the same level of numeracy skills of a 10 year old.  This would suggest the education policy is failing to meet the demands of industry and therefore  go some way in explaining  the worsening productivity levels amongst other things .  A summary of the main finding can be found here, Failing Britain.

Or is it a symptom of something else?  An issue of class

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