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Chancellor looks to US to help drive up productivity

first_img Comments are closed. Chancellor Gordon Brown has signed a new agreement with his US counterpartto help drive up UK productivity and make British universities moreentrepreneurial. Brown, along with the US treasury secretary John Snow, promised to sharebest practice on productivity by setting up a forum to discuss the challengesand achievements of both nations. The forum will meet next year and look at how to improve productivity in theUK, with the low level of worker skills and poor use of IT topping its agenda. Brown said skills creation was crucial in providing economic stability andensuring growth within the UK economy. “We are investing more in education and workplace skills than at anytime in history, and I hope we can strengthen the skills partnership betweenGovernment and business,” he said. It will also investigate ways of improving the knowledge economies, with anemphasis on solving the shortages of science, engineering and maths graduates. The pact will instigate more collaboration between UK and US universities bybuilding closer links, sharing technology and swapping professors. Cambridge University and MIT have already agreed to link up on an initiativeto look into productivity, while other UK universities will now be able toapply to the Government to fund similar projects. Brown also promised to fight unnecessary European bureaucracy by invitingcompanies to put some rules, such as the Agency Workers Directive, to the ‘isit really necessary’ test. The joint UK-US enterprise agreement also aims to strengthen transatlanticbusiness – which already stands at more than $2.5 trillion – by liberalisingtrade rules. Brown also said it could lead to an extra $100m and one millionjobs. Related posts:No related photos. Chancellor looks to US to help drive up productivityOn 25 Nov 2003 in Personnel Today Previous Article Next Articlelast_img read more