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Debate on 18 July: Role of Government in Generating Economic Prosperity and Employment

Published Friday, July 12, 2013

This Note outlines recent data on the performance of the UK economy, announcements by the Government for capital spending, spending on research and development and action to help businesses gain access to funding. It also looks at proposals for the Government to take more of a role in managing growth, in particular whether the UK needs a more coherent and long-term industrial strategy.

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This Note outlines recent data on the performance of the UK economy since the global financial crisis of 2008. It summarises recent announcements by the Government for capital spending, spending on research and development and action to help businesses gain access to funding, including plans for the establishment of a Business Bank. It also looks at proposals for the Government to take more of a role in managing growth, in particular whether the UK needs a more coherent and long-term industrial strategy. The Parliamentary Office of Science and Technology (POST) have prepared a ‘POSTbox’ on the impact of publicly-funded research and development, included at the end of this Note.

Lords Library notes LLN-2013-020

Author: Edward Scott

Topics: Economic policy, Employment, Industry, Public expenditure, Research and innovation, Science, Small businesses

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