Saturday, January 15, 2005


Priorities - the economy

Effective governance of the global economy was once a must for the UK (see below), but looks like it has fallen out of favour. It's not yet on the UK's 'wish-list' for the G8's agenda. The European Union no doubt take issue with the UK's change of heart - especially because of the disorder in exchange rates.

But the UK has its own worries. Effective governance of the UK economy is a more pressing need. Public sector reform, for example, is proving difficult - for all political parties wanting votes. Is the economy really a priority (Lisbon agenda)?

>Business has expressed scepticism about the "very ambitious" Tory plans to generate public sector savings of more than £30bn to fund tax cuts of about £5bn which Michael Howard, the Conservative leader, will announce on Monday.<

>The CBI said it needed "to be convinced that the scale of these numbers can be achieved in the first year [of a Tory government]" because both governments and opposition parties had an "indifferent track record in realising such big numbers in such a short time". <

>"Setting targets is one thing. Seeing detailed working out is something else. And seeing implementation of it is something else again."

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