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In a constantly changing world, there is a continuous need to ensure we are providing the best possible environment to generate economic growth, create new jobs and deliver the social conditions Europe’s people have come to expect. We therefore need a flexible economy that is able to respond rapidly to new developments around the globe. For this reason, in 2000 the European Union launched a ten year programme of economic reform, known as the Lisbon Agenda.
Under the Lisbon Agenda, EU member states agreed to co-ordinate their reform efforts with a view to improving performance across the EU in four key areas. These included investing in knowledge and innovation; improving the business environment; increasing employment opportunities and defining a climate and energy policy for Europe.
The recent economic crisis has dramatically changed the outlook for Europe’s economy, challenging assumptions and necessitating a radical rethink of the economic reform agenda. An increasingly integrated global economy means Europe needs to take much more account of economic developments beyond Europe’s borders and there is an increasingly urgent need to address new challenges such as a changing climate and an ageing population.
The government is pursuing a strategy for economic reform in Europe that will enable the EU to emerge from the crisis as rapidly as possible and put it on the path to strong, sustainable growth in the years ahead.The terms of this debate were outlined in a paper on the Future of EU Competitiveness, which was published in June 2009 (see related documents link on right of page).
The Future of EU Competitiveness identified the Single Market as Europe’s crowning achievement and called for a renewed commitment to open markets both within the EU and beyond. It outlined the case for new investment in people and skills, in innovation and in the essential infrastructure needed to support economic growth. The paper also identified a number of strategically important sectors where the EU would benefit from pooling its efforts including low carbon, services, advanced manufacturing, the digital economy and life sciences.
The UK cannot deliver this agenda on its own. We are therefore working with partners in Europe to agree a new programme for pan-European economic reform to succeed the Lisbon Agenda when it comes to an end in 2010.
As part of this continuing process on 19th January the Prime Minister, Lord Mandelson ( Secretary of State for BIS) and Alistair Darling (Chancellor) launched a new publication :
This contains further proposals for a European Compact for Jobs and Growth to address the key challenges Europe faces over the coming decade. A Compact to ensure coherence between the existing tools and pillars of EU economic policy, including the Stability and Growth Pact, a structural reform programme to succeed the Lisbon Strategy and financial services reform.
The government’s objectives for the successor to the Lisbon Agenda include:
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