Labour’s Growth Strategy for Britain
The Labour government has announced over £1.7 billion of investment for manufacturing research and new industries such as the digital sector and biotechnologies.
Prime Minister Gordon Brown stated: “Growth is not only the key to prosperity and jobs, but also rebuilding the revenues for safeguarding the public services on which we rely.
“The growth strategy shows how we will support and unleash the entrepreneurial, innovative and dynamic talents we know we have in Britain.”
The focus is on long-term sustainable growth strategies in the UK. The Business Secretary, Peter Mandelson noted that much could be learnt from public companies such as John Lewis. According to evidence the company, which shares its rewards with employees, is successful in pursuing long term growth.
The government’s new strategy features £1 billion of investment in the upgrading of the country’s digital infrastructure, £70 million of new funding for manufacturing research projects and the creation of 35,000 advanced technical apprenticeships over the next two years. £38.5 million has also been assigned to 260 new research low carbon technologies projects.
Commenting on the announced investment Chuka said: “This funding, particularly for research into low-carbon technologies, clearly demonstrates Labour’s commitment to fighting climate change, alongside investment in new jobs and in a strategic long-term restructuring of the economy.”
