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In many respects, the reforms proposed by the Growth Commission fall in-step with many of our policy recommendations for the UK in areas such as education, innovation and the economy. However, investing more in human capital, innovation and infrastructure, like broadband, is essential to make the UK more innovative and competitive in world markets, said OECD Secretary-General.
Prime Minister Fico has defined as a key priority of his Government the implementation of a programme for social stability, aiming at alleviating the impacts of the crisis and establishing long-term goals for the economic, social, environmental and technological development of Slovakia, said OECD Secretary-General.
This crisis should allow us to move to a new order in which emerging economies and developing countries have more say; from a world of environmental degradation to one that embraces resource sustainability; from a deregulatory logic to a trustable financial governance that brings banks back to their original purpose of serving society, said Mr. Gurría.
Re-igniting growth and putting people back to work will be essential to restore citizens’ confidence with positive spill-over effects on other policy measures and their effectiveness, said OECD Secretary-General.
The production and dissemination of reliable statistics have become essential for public administration and public policy. Statistics is not an aim in itself, but a very important tool to improve our understanding of an increasingly complex, interdependent and fast-evolving world, said OECD Secretary-General.
Strong international cooperation on testing, exploring and refining measurement tools on green growth is essential to support implementation and assessment of policies in both developed and developing countries, said OECD Secretary-General.
Economic growth has played a major role in lifting people out of poverty. However, there is increasing evidence that many of these people did not move up to the middle classes but into an intermediate state of “vulnerability”. Poverty continues to affect millions of people around the world, said OECD Secretary-General.
In a large majority of OECD countries, wage gaps widened and household income inequality increased during the three decades prior to the crisis. Inequalities have also been growing in many emerging economies and developing countries, despite their fast growth over the last years, said OECD Secretary-General.
Our economic growth models have not equitably distribute benefits. Inequalities were brewing under the surface prior to 2007 and increased almost everywhere even during periods of sustained economic growth. We need to reverse this trend, said OECD Secretary-General.
The fiscal and taxation reforms will be more than ever necessary in China to ensure that growth becomes more inclusive. So far, China has had a major success in reducing the poverty. But additional tax reforms will be needed to reduce further inequality in disposable income and across regions, as well as to help reduce the rural-urban divide.