The Impact of Innovation on the UK Economy

Sir George Cox: how and why UK business and Government has to make greater use of its abundant creative capabilities.

Innovation has always been important to business, but never as important as today. In a world which is being transformed by global markets and technology, successful innovation and the exploitation of creative capabilities will determine not simply the success of individual companies, but the economic health of nations.

The rise of high tech industries and highly skilled work forces in countries like India and China, allied to low cost base and vigorous economic growth, poses an enormous challenge to UK business. This applies to every sector, services as well as manufacturing. To gear up to meet this challenge and also to take advantage of the new markets that are being created, the UK has to make much greater use of its abundant creative capabilities. Sir George Cox was recently commissioned by the Chancellor of the Exchequer to look at how this might be brought about. He will explain the background to the Cox Review and what is happening as a result of its recommendations.

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