UK Politics

Labour Party: Labour's Growth Strategy

News   •   Jan 08, 2010 10:44 GMT

Labour’s Prime Minister Gordon Brown and Business Secretary Peter Mandelson have launched the government’s growth strategy.

Building on the action taken over the last year in supporting the economy through the global downturn, the strategy sets out how Britain will take advantage of the opportunities open to the country.

Globalisation, technological change, climate change, natural resource pressure and demographics that are radically changing the world in which our businesses and people compete mean that government has to play an active role.

Labour is committed to playing this active role and driving, not just the recovery, but long-term sustainable growth - in contrast to the Conservatives' plans for choking off the recovery and delivering a decade of low growth and austerity.

Labour's Business Secretary, Peter Mandelson, said:

“This plan is about a renewed politics of production.  The genius of science and research. The dynamism of personal enterprise. The drive of a skilled and confident workforce. Access to finance on the right terms for long term growth. A world class infrastructure. And strategic action from government to invest in all these things.

“These simple, powerful capabilities are the building blocks of our future growth. They stress the importance of recognizing that industrial competitiveness is not something that emerges out of the free market ether.

“The £70M funding we’re announcing today for state of the art manufacturing research centres shows what we can do to realise our potential.”

The strategy includes:

* New Innovative Manufacturing Research Centres as part of a new £70M initiative to develop growth in UK manufacturing

* A new UK Life Sciences Super Cluster to bring industry together with the UK's leading researchers and clinicians to drive innovation in early stage drug and medical technology development.

* A goal to improve our position in the World Bank rankings for “Ease of Doing Business” from 5th place to 4th, ahead of the USA and make us first in G20, plus initiatives to help us meet that target.

* The UK Borders Agency will build new additional flexibility in the points based immigration system to create a simpler way for employers to bring in non-EEA interns and trainees.

* Small Business Research Initiative – competitions to be launched early 2010 will improve the energy efficiency of public buildings, working with DECC and to develop Ultra Efficient Lighting solutions for domestic use, in conjunction with DEFRA.

* £30m of new Technology Strategy Board investments to stimulate business innovation in those areas which offer the greatest scope for boosting UK growth and productivity.