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Volume 448: debated on Thursday 6 July 2006

To ask the Chancellor of the Exchequer what recent assessment he has made of the principal factors affecting the competitiveness of UK businesses. (82823)

The Budget Report provided an assessment of all areas of the UK economy, and action needed by Government to provide the right environment for businesses competing in the global environment.

The Government’s strategy for advancing productivity growth is based on two pillars: providing macroeconomic stability to allow firms and individuals to invest in the future, and making microeconomic reforms to ensure that markets function efficiently and that barriers to productivity growth are tackled.