Sustainable growth and prosperity
The pace of change in the global economy is intensifying, with growing movement of people, investment and goods across international borders. The Government is committed to equipping Britain to respond to these changes. Britain’s relative economic performance has improved in recent years, with productivity now higher than Germany and moving closer to France. A flexible, enterprising, and high-skilled economy will help deliver faster productivity growth and ensure the UK is well-placed to prosper in the global economy. The 2007 Pre-Budget Report and Comprehensive Spending Review announces:
- greater investment in science, by increasing total public investment in science from £5.4 billion in 2007-08 to £6.3 billion by 2010-11;
- three tax simplification reviews and a package of over 20 tax simplification measures;
- increasing total spending on higher education and skills from £14.2 billion in 2007-08 to £16.4 billion by 2010-11; and
- £15 billion of Government funding in the rail network over five years, including provision for Crossrail.
