Changing the nature of work and of the workforce itself. The new economy has as its cornerstones knowledge, skills, innovation and enterprise. The successful economies of the future will excel at generating and disseminating knowledge and exploiting it commercially. Today I'd like to set out not only some of the measures we've taken to improve our business environment - but also to look at what I believe we need to do in the future to ensure we remain a good place to do business. And not only in the UK, but in Europe as well.
Global markets mean that all sectors have to adapt to compete in the future.
That has always been the case. But in the 21st century the changes affecting industry are happening at an ever increasing speed. A speed which Government and industry hasn't always kept up with. But we must in the future. Our objective must be a dynamic knowledge based economy founded on individual empowerment and opportunity.