HL Deb 10 June 2002 vol 636 cc3-4WA
Lord Moynihan

asked Her Majesty's Government:

What progress they will seek to make in strengthening global economic growth at the forthcoming G8 summit in Kananaskis. [HL4526]

Lord McIntosh of Haringey

The Kananaskis summit and the meeting of G7 Finance Ministers in Halifax on 14–15 June take place at a time of cautious optimism about the prospects for global growth. Discussions are likely to focus on the measures required to raise the sustainable level of economic growth in the global economy.

The UK Government will emphasise the role of structural reform of labour, product and capital markets in raising productivity growth over the medium term within a stable macroeconomic framework and with continued improvement in the system for preventing and resolving financial crises.

The meetings will also consider ways to promote poverty reduction internationally, with a specific focus on development in Africa.