The government submitted to the European Commission the fourth annual update to the United Kingdom 'convergence programme', as stipulated under the European Union Stability and Growth Pact. The programme provides information on economic and fiscal developments in the UK for the purposes of multilateral surveillance.
Source: Sustainability for the Long Term: Convergence Programme for the United Kingdom, HM Treasury (020 7270 4558)
Links: Report (pdf) | Press release
Date: 2002-Dec
The government published a policy framework for small businesses, partly designed to encourage enterprise in disadvantaged communities and among under-represented groups.
Source: Small Business and Government - The way forward, Department of Trade and Industry (020 7215 5000) | House of Commons Hansard, Written Ministerial Statement 17.12.02, column 44WS, TSO (0870 600 5522)
Links: Report (pdf) | Hansard
Date: 2002-Dec
The Pre-Budget Report set out updated forecasts for the economy and the public finances. Net public borrowing for 2002-03 was forecast to reach 20 billion, compared to the 11 billion predicted at the time of the Budget. The Chancellor said that increased borrowing is the correct response to lower than expected economic growth, and that plans for public spending programmes remain affordable. Some commentators reportedly questioned the assumptions about economic growth underlying the Report.
Source: Steering a Steady Course - Delivering stability, enterprise and fairness in an uncertain world: Pre-Budget Report November 2002, Cm 5664, HM Treasury, TSO (0870 600 5522) | The Independent, 29.11.02
Links: Report | Hansard | Press release
Date: 2002-Nov
A report from the Organisation for Economic Co-operation and Development said that regulatory reforms have played an important part in the United Kingdom's improved economic performance, including a flexible labour market, low unemployment, a world-class financial services sector, and inward and outward investment flows which are among the highest in the world.
Source: Regulatory Reform in the United Kingdom: Challenges at the Cutting Edge, Organisation for Economic Co-operation and Development (+33 1 4524 8200)
Links: Cabinet Office press release
Date: 2002-Oct
A Liberal Democrat MP proposed a framework for trade and industry policy based on 'an economically liberal agenda which is pro-competition and pro-consumer'.
Source: Vincent Cable MP, Regulating Modern Capitalism, Centre for Reform (020 7222 5121)
Links: CFR homepage
Date: 2002-Oct
The government published a report setting out the challenges facing European Union member states in meeting the employment targets set at the Lisbon and Stockholm summits, together with the benefits of reaching them and the longer term goal of full employment.
Source: Towards Full Employment in the European Union, HM Treasury (020 7270 4558), Department of Trade and Industry, and Department for Work and Pensions
Links: Report | Treasury press release
See also: Journal of Social Policy Volume 31/1, Digest 121, paragraph 7.1
Date: 2002-Jul