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Ed Miliband launches Adonis Growth Review

“There will be less money around so we need new ideas to reform our economy and rebuild Britain.”

Ed Miliband MP, Leader of the Labour Party, and Lord Adonis, Labour's Shadow Infrastructure Minister, will today launch an independent growth review which is due to be published in spring 2014.

The Adonis Growth Review, which is jointly supported by the Institute of Public Policy Research (IPPR) and Policy Network, will set out a radical agenda for change to revitalise the British economy by supporting business innovation and growth across the country. Raising the quality and rate of job creation is crucial to enabling Britain to compete more effectively in the 21st century.

Over the next few months, Lord Adonis will be touring the country to hear the views of local businesses, colleges and communities taking into account the diverse challenges to innovation and growth faced by the different regions.

Speaking at a visit to Crossrail in London, Mr Miliband said:

“The last Labour government rebuilt our schools and rescued our NHS so that these key services worked better for the people of Britain.

“The next Labour government will need the same level of ambition in rebuilding our economy to secure a recovery made by many which is built to last.

“That is why I am delighted that Andrew Adonis has agreed to lead this independent review on growth.

“Having played such a key role reforming our public services before, he will now be applying similar radical thinking to industrial policy so that we can rebuild our economy, equip Britain with the skills and better jobs we need to pay our way in the world.

“There will be less money around so we need new ideas. And that is where the hard work comes in to make the economic reforms needed to create a more responsible capitalism. This is one of the key ways we can make a huge difference to people’s lives while also demonstrating the discipline required to get the deficit down.

“A One Nation Labour government will work with business to deliver more youth apprenticeships and promote long term growth, work with entrepreneurs to encourage innovation, and work with local government to build the infrastructure Britain needs in the future, like Crossrail.

“But none of this will happen without new ideas, careful planning and consistency. This is an important review and I will be looking forward to reading its conclusions as part of the preparations we undertake for the next Labour government.”

Lord Adonis said:

"We need to promote more and better jobs by radically improving skills, the national infrastructure, levels of business innovation, and the strength of key industrial sectors. Government needs to be far more engaged and hands-on to make this happen.

“The status quo is dire: youth unemployment of a million, Britain with one of the worst infrastructures in the developed world, including a massive housing shortage, pitiful levels of investment and R & D across much of the economy, and lacklustre export performance. Britain is stagnant, with 2.5 million unemployed and a squeeze on real living standards, and all this needs to change. I hope to chart a credible strategy for change in all these key areas.”

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