British government sets out strategy to boost economic growth
www.chinaview.cn 2010-01-08 06:39:27   Print

    LONDON, Jan. 7 (Xinhua) -- The British government publicized a strategy, entitled "Going for Growth: Our Future Prosperity," hereon Thursday to build foundations of low carbon industrial competitiveness to boost the country's public finances through sustainable growth.

    According to the strategy, the British government will build on foundations in seven key areas, including supporting enterprise and entrepreneurial activity; fostering knowledge creation and its innovative application; helping people develop the skill and capabilities; investing in the infrastructure required to support low carbon modern economy; ensuring open and competitive markets; building on industrial strengths in sectors where Britain has expertise; and employing the right strategic role for government in markets.

    British Prime Minister Gordon Brown said at a Thursday press conference that growth was not only key to prosperity and jobs, but also to rebuilding the revenues for safeguarding the public services on which the country relies.

    Meanwhile, he stressed "our strategy for growth is not at the expense of our deficit reduction plan."

    He also said that the government had "no intention of sacrificing Britain's leading role in financial services," and that "there is no question of choice being made between financial services and manufacturing."

    Business Secretary Lord Mandelson announced 70 million pounds (about 112 million U.S. dollars) of new funding for three new manufacturing research centers with the aim of helping British business develop technology products and the future and underpin manufacturing growth. The three centers will focus on research efforts in the fields of photonics, regenerative medicine and liquid metals.

    He said that the government would do everything to maintain the competitive business environment of the country.

    Earlier, both Brown and Mandelson said that the best way to reduce the huge public deficit was to ensure the sustainable economic growth.

    According to the pre-budget report publicized by Chancellor Alistair Darling on Dec. 9, the public deficits would reach as high as 178 billion pounds (about 285 billion dollars) in 2010. But he promised to halve the deficits within four years.

    Darling also predicted that the British economy would increase merely by 1-1.5 percent this year while rising by 3.5 percent in 2011 and 2012 each.

    As more positive signs have emerged, economists have the commonsense that the British economy has stepped out of the 18-month recession and would turn to positive growth in 2010. 

Editor: Mu Xuequan
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