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Tera Allas, CBE

Director of Research and Economics, London
Leads economic and business research on growth, productivity, innovation, technology adoption, and outcome measurement

About Tera

Tera is Director of Research and Economics in McKinsey’s United Kingdom and Ireland office, working closely with the McKinsey Global Institute. She leads McKinsey’s research on growth, productivity, innovation, technology adoption, and government effectiveness, bringing together deep expertise and more than two decades of experience in economics, public policy and leadership, as well as ten years as a management consultant focusing on corporate and business-unit strategy.

Tera is a Fellow of the Academy of Social Sciences and a Fellow of the Royal Society for the Encouragement of Arts, Manufactures and Commerce. She is a frequent author, panelist, and speaker on topics ranging from economic development and innovation policy to technology adoption and the future of work. She serves as a trustee of the Royal Economic Society, the National Institute of Economic and Social Research, and the United Kingdom’s Productivity Leadership Group. She is also a member of a number of expert advisory groups on economic policy and innovation.

Tera was previously on the board of Innovate UK, the United Kingdom’s national innovation agency, and a member of the States of Jersey fiscal policy panel. From 2004 to 2014, she worked as chief economist in the UK government’s energy, transport and business departments. In 2018, Tera was appointed Commander of the Order of the British Empire (CBE) for services to economic policy.

Published work

Lessons on resilience for small and midsize businesses,” Harvard Business Review, June 2021

Facing the future: Britain’s new industrial revolution,” McKinsey & Company, May 2021

Facing the future: How UK businesses can thrive in the next normal,” McKinsey & Company, March 2021

The economic case for reskilling in the UK: How employers can thrive by boosting workers’ skills,” McKinsey & Company, November 2020

Problems amid progress: Improving lives and livelihoods for ethnic minorities in the United Kingdom,” McKinsey & Company, October 2020

The boss factor: Making the world a better place through workplace relationships,” McKinsey Quarterly, September 2020

An experiment to inform universal basic income,” McKinsey & Company, September 2020

Well-being in Europe: Addressing the high cost of COVID-19 on life satisfaction,” McKinsey & Company, June 2020

COVID-19 in the United Kingdom: Assessing jobs at risk and the impact on people and places,” McKinsey & Company, May 2020

How European businesses can position themselves for recovery,” McKinsey & Company, April 2020

Brexit: The bigger picture—Embracing agility in a volatile world,” McKinsey & Company, December 2019

The future of work: Rethinking skills to tackle the UK’s looming talent shortage,” McKinsey & Company, November 2019

Confronting overconfidence in talent strategy, management, and development,” McKinsey Quarterly, June 2019

The future of women at work in the United Kingdom,” McKinsey Global Institute, June 2019

Artificial intelligence in the United Kingdom: Prospects and challenges,” McKinsey Global Institute, June 2019

Tech for Good’: Using technology to smooth disruption and improve well-being,” McKinsey Global Institute, May 2019

How automation could affect employment for women and minorities,” McKinsey Quarterly, April 2019

Brexit: The bigger picture - Revitalizing UK exports in the new world of trade,” McKinsey & Company, March 2019

Solving the United Kingdom’s productivity puzzle in a digital age,” McKinsey Global Institute, September 2018

A smarter approach to cost reduction in the public sector,” McKinsey & Company, June 2018

Delivering for citizens: How to triple the success rate of government transformations,” McKinsey & Company, May 2018

Transforming a 150-year-old government agency: A CEO story,” McKinsey & Company, April 2018

Improving outcomes with better government productivity,” McKinsey & Company, March 2018

How smarter purchasing can improve public-sector performance,” McKinsey & Company, March 2018

How governments can be more effective by reallocating their resources,” McKinsey & Company, March 2018

Improving the effectiveness of tax collection: $30 in additional revenue for every $1 spent?,” McKinsey & Company, February 2018

Accelerating the diffusion of technology-enabled business practices,” McKinsey Quarterly, February 2018

Mitigating risk in IT megaprojects,” McKinsey & Company, January 2018

How the public sector fits in the productivity puzzle,” McKinsey & Company, January 2018

How artificial intelligence can deliver real value to companies,” McKinsey & Company, June 2017

The opportunity in government productivity,” McKinsey & Company, April 2017

Past experience

UK Department for Business, Innovation and Skills; UK Government Economic Service
Director general; deputy head

UK Department for Transport
Chief economist; director, transport analysis and economics

UK Department of Energy & Climate Change
Chief energy economist

Bank of Finland
Financial analyst

Finnish Real Estate Bank



Aalto University (Helsinki University of Technology)
MSc, industrial economics