EU: Economy

House of Lords written question – answered at on 25 January 2010.

Alert me about debates like this

Photo of Lord Kirkwood of Kirkhope Lord Kirkwood of Kirkhope Spokesperson for Work and Pensions

To ask Her Majesty's Government what proposals they have to promote competitiveness and economic growth in the European Union over the next 10 years.

Photo of Lord Myners Lord Myners Parliamentary Secretary, HM Treasury

Building on the Prime Minister's letter to the Swedish Prime Minister ahead of the October 2009 European Council, the Government on 19 January launched their plan for a new EU compact for jobs and growth. The paper sets out the need for strong, sustainable, and balanced growth to continue to raise the prosperity and improve the standard of living of Europe's citizens, and is available at: www.cabinetoffice.gov.uk/media/329788/compact-jobs-growth.pdf.

It outlines six areas where action is needed, with policy proposals in each area:

fiscal policy that protects the recovery and supports sustainable growth;creating new jobs and equipping our workforce with skills for the new economy;growing the innovative industries of the future;supporting business to take advantage of the single market;opening up global markets to trade and investment; anda robust and competitive financial services sector.

It also proposes a compact between the President of the Commission and the President of the European Council that would serve as a framework for harnessing Europe's policies, such as those set out in the UK Government's paper and the European Commission's EU 2020 proposals, to deliver jobs and growth.

The UK Government have also outlined their priorities for EU economic reform in a paper The Future of EU Competitiveness: From Economic Recovery to Sustainable Growth, published in June 2009 and available at www.berr.gov.uk/files/files51732.pdf. This sets out key areas where EU action can have the greatest impact to ensure EU businesses can compete in a global marketplace, and highlights the importance of an integrated approach to EU industrial policy and the future of the single market.

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.