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The crisis has forced us to engage in a true soul searching exercise – to see where we stand, where our models have failed, and where we need to go. But how can we best prepare ourselves for the new global economic landscape while addressing current challenges?
On the occasion of his official visit to London, Angel Gurría will give a lecture on the New Approaches to Economic Challenges at the Official Monetary and Financial Institutions Forum (OMFIF) and will meet with key government officials.
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The UK economy has been broadly flat over the past two years. Employment has risen slightly, while the unemployment rate has stayed close to 8%. Projections in the 2012 OECD Employment Outlook foresee some increase in the unemployment rate that could even reach 9% in 2013.
The United Kingdom is preparing for a deep decarbonisation of its energy system. The country has decided to halve its greenhouse gas emissions from 1990 to 2027 and to cut them by a total of 80% by 2050. For this to happen, significant private-sector investment in new energy infrastructure is needed. As it seeks concrete solutions to the low-carbon investment challenge, the United Kingdom is leading by example. The UK’s proposed Electricity Market Reform is a pioneering effort that will be closely observed by other countries. Ideally, this complex and ambitious reform would in the long run lead to a more liberalised marketplace in which low-carbon power generation technologies compete to deliver innovative and least-cost outcomes. Security of supply remains a key focus of energy policy. Fossil fuel production in the United Kingdom has peaked, and a fifth of the country’s ageing power generating capacity will have to be closed this decade. However, oil and gas imports are well diversified, and the government intends to promote various technologies to generate low-carbon electricity – renewable and nuclear energy and carbon capture and storage. More efficient energy use is essential to both decarbonisation and energy security. The Green Deal programme, which the UK plans to launch later this year, aims to improve energy efficiency in buildings and public spaces. The programme has the potential to help energy consumers overcome economic challenges, but for it to succeed, the general public must be sufficiently aware of its benefits.
The report highlights strategies from other countries that could serve as a model for England as it develops its early childhood education and care programme.
Despite significant increases in spending on child care and education during the last decade, PISA scores suggest that educational performance remains static, uneven and strongly related to parents’ income and background.
This report summarises the analysis, findings and policy recommendations from the project on Climate Change, Employment and Local Development undertaken by the OECD Local Economic and Employment Development (LEED) Programme.
The country statistical profiles include a wide range of indicators on economy, education, energy, environment, foreign aid, health, information and communication, labour, migration, R&D, trade and society.