HM Treasury
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UK, German and Swedish Finance Ministries publish 'Social Bridges II - the importance of human capital for growth and social inclusion'
Today the Finance Ministries of Sweden, the UK and Germany published a joint vision for shaping an inclusive globalisation through human capital.
"Social Bridges II - The importance of human capital for growth and social inclusion" takes up the basic idea of building social bridges by combining modern economic and social policies to provide flexibility, fairness and opportunity for all.
Global change is bringing new markets and new jobs in high tech, high value-added, high skill, dynamic sectors. It has already brought benefits to Europe through higher prosperity and lower prices. If Europe is to realise its future benefits we must embrace its opportunities. That means reaffirming our commitment to an open European economy and flexible labour markets, and then matching this with a commitment to fairness for all - and providing individuals with the skills and opportunities they need for them and their family to prosper.
Social Bridges II sets out a policy approach, which combines flexibility and fairness through education and equipping people with the necessary skills they need, and will need. The paper looks at the common challenges that educational systems and labour markets face across Member States, and outlines shared features of possible policy responses to reduce barriers to labour market participation, improve employability and social inclusion.
European Finance Ministers should support people to start and progress in work through a renewed commitment to education and skills.
Social Bridges II aims to provide a new impetus to the ongoing and future discussions on modern and inclusive policy responses to globalisation from the perspective of Finance Ministers. Effective and efficient policy development, using a social bridges approach, can increase social inclusion and contribute to an improved economic and fiscal position, delivering sustainable levels of public spending and generating increased revenues.
NOTES TO EDITORS
1. Social Bridges II is available on the Treasury website here http://www.hm-treasury.gov.uk/documents/international_issues/european_economic_reform/social_bridges_ii.cfm
2. Social Bridges II builds on the paper "Social Bridges - Meeting the challenges of globalisation" published by the Swedish Finance Ministry and the UK Treasury in April 2006.
3. Non-media enquiries should be addressed to the Treasury Correspondence and Enquiry Unit on 020 7270 4558, or by e-mail to public.enquiries@hm-treasury.gov.uk
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