HL Deb 20 November 2003 vol 654 cc344-5WA
Lord Taylor of Warwick

asked Her Majesty's Government:

Why in one year the United Kingdom has fallen from 11th to 15th place in the World Economic Forum's overall competitive ratings. [HL5299]

Lord Sainsbury of Turville

Competitiveness rankings are far from a scientific exercise. Different exercises give different results and survey data are notoriously volatile. What matters to UK businesses is not some ranking on an artificial index but the economic reality: an extra 1.5 million jobs since 1997; the lowest-ever rates of corporation tax with a new zero rate for smaller companies; and inflation at historically low levels.

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