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Pre-Budget Report 2004 Summary
Opportunity for all:
The strength to take the long-term decisions for Britain
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Promoting enterprise, innovation and skills

Britain has high employment levels but the amount of output produced per worker - productivity - has historically been lower than in other major economies. Recent figures suggest the UK's performance is improving, with productivity on an output per worker basis now higher than Germany and moving closer to France.

An enterprising, innovative and high-skilled economy will help deliver faster productivity growth and ensure the UK is well-placed to prosper in the global economy. The Pre-Budget Report announcements include:

  • a National Employer Training Programme providing free and flexibly delivered training for low-skilled adults in work, and a new review to look in depth at the UK's future skills needs;
  • reforms to reduce the regulatory burden on enterprise, and publication of the interim report of the Hampton Review consulting on improvements to the current system of regulatory inspection and enforcement; and
  • implementation of the ten-year Science and Innovation Investment Framework, by strengthening the partnership with business on raising investment in UK R&D, and improving business-university collaboration.

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Productivity - output per worker

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