Homepage
Key Budget measures include
Maintaining economic stability
Productivity and enterprise in a flexible economy

Employment opportunity for all
Building a fairer society
High quality public services
Protecting the environment

Household income
Where taxpayers' money is spent
Further information
Visit HM Treasury Site

The amount of output produced per worker - productivity - has historically been lower in the UK than in other major economies. Closing this productivity gap will help to deliver greater economic prosperity and rising living standards in years to come. In the modern global economy, faster productivity growth requires flexible and dynamic businesses and a highly skilled workforce. Budget 2003 announces new measures to boost enterprise and skills, such as:

• new proposals to help small firms raise the finance they need to start up, develop and grow;


• reforms to reduce red tape and simplify tax for small businesses, to help break down the barriers to business success;


• new proposals to improve the supply of housing and to streamline and simplify planning decisions;


• £16 million to fund Enterprise Advisers to work alongside headteachers in deprived schools and give pupils experience of business;


• improved tax incentives to boost research and development and investment in information technology by small companies; and


• an extension of existing pilots to improve access to training among low-skilled people, and new reforms to promote migration as a source of skills and labour in the UK economy.

Back to top

Back to top