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No innovation? No growth

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No innovation? No growth

A draft report setting out priorities to support the development of Britain’s professional and business services industries was published by the Government.

Already significant in the economy, the sector is also a key driver of innovation.  It is poised to grow strongly through to 2020 as new markets open in emerging economies, and services are developed to support the shift to a digital, low carbon economy.

Trade, Investment and Small Business Minister Lord Davies said: “Britain, and London in particular, is a global hub for professional and business services.  The sector is a real asset to the UK as we transform to a more networked and smarter low carbon economy, and it also has considerable future export potential. He added. “I want to ensure we are doing all we can to help this sector to flourish. That is why the Government is seeking industry views on how we keep the world’s leading companies located here and support them to grow.”

An interim report setting out priorities for Government action was released for discussion today at a conference of leading industry representatives.  Among its draft recommendations are plans for Government to: take a lead in developing a new framework of standards for a green economy; address concerns about the ownership, privacy and commercial use of personal data; encourage the development of fast broadband coverage outside the main cities; play a leading role in promoting services in Europe and review the export assistance provided to the sector; and improve the way it procures services from the private sector.

25 March 2010 

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