By Marcus Leach

The Labour Party has launched a policy review aimed at ‘how Britain can lead the world in enterprise and skills’.

The need for growth and for job creation is not just the greatest short term challenge facing the economy; in an ever increasingly competitive and globalised world, Britain must be clear how we can pay our way in the future and with a labour market offering fair rewards and opportunities. The review will look at these challenges and the transformation needed to secure the country’s future.

“Britain faces challenges and competition from an increasingly globalised world,” John Denham MP, Labour’s Shadow Business Secretary, said.

“It is no longer enough to simply be a decent place to do business. We must ensure that the business environment is so good that every business can achieve its growth potential - businesses with high growth potential are able to achieve this, businesses that are created can survive and grow and no leading company can afford not to be here.

“We want to see more businesses and jobs created, more people leading business and more people in business, in a growing economy.

“This means looking at our strengths, our comparative advantage and where we can lead the world, alongside the barriers and challenges. Critically it means looking at the role of government in supporting and creating the environment in which we secure all the elements needed for future success - to support private sector growth, support innovation and support the industries and jobs of today and of the future.

"We need to build a different sort of economy; a high quality economy with quality jobs and a better quality of life. This means good jobs with good wages for middle and lower income families — and the British Promise - that we need to ensure the next generation is able to do better than the last.”

John Denham MP, Labour’s Shadow Business Secretary, will lead the review.