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In the global economy, our economies are all interdependent so to be fully effective domestic and international action need to be complementary if it is to to have real impact. This involves working closely with European and global partners to achieve our goals.
The UK is inextricably linked to the EU. More than half our trade is with Europe. With 3 million jobs linked to this trade.
Britain's membership of the EU impacts positively on all of us and is based on common values for all. It provides business with access to the world's largest and richest market, which in turn boosts family incomes across the UK; and it helps to protect every British consumer.
The next decade will be critical in Europe’s economic history, and the European Parliament and European Commission will face many challenges. Supporting a recovery that delivers jobs and prosperity will be vital. Beyond this we, as Europeans, must equip workers and companies with the skills, resources, and regulatory environment to allow them to respond effectively to the pressures of globalisation.Only by investing in our capacity to produce high-value goods and services can we hope to sustain the standard of living and public services that our citizens expect and deserve.
The UK Government has outlined its priorities for EU economic reform in a paper "The Future of EU Competitiveness: from economic recovery to sustainable growth” published in June 2009 (see related document links on right of page). 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. Translations are also available in French, German, Spanish and Italian.
On Tuesday 19th January following up on this the Prime Minister, Lord Mandelson ( Secretary of State for BIS) and Alistair Darling (Chancellor) launched a new publication :
containing 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.
By working with partners both at home, in other Member States and EU institutions, together we can strengthen the building blocks of our common economic future and ensure the EU continues to deliver benefits to all its citizens.
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