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Encouraging innovation is a vital component of the Government’s strategy for improving the UK’s productivity performance and competitiveness – alongside boosting entrepreneurship, investment, competition, public sector productivity and the skills set of the UK workforce. However, the Government can only achieve this aim effectively through working in partnership with business. The Government can help by creating a business environment and framework that are internationally competitive, giving businesses the platform from which to innovate. But it is businesses that must rise to the challenge of making the most of these opportunities. This Government has done much to create a stronger climate for investment and innovation, particularly through a stable macroeconomic policy. We have also introduced a number of measures specifically aimed at boosting innovation in the UK. For example, the Government has sought to enhance the UK’s science base through funding research in new areas such as genomics and e-science and encouraging science graduates to continue their studies and raise their potential by increasing the stipend for PhDs. Furthermore, in partnership with the Wellcome Trust the Government has launched the largest research investment programme in our universities since the 1960s

Year: 2001
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