HISTORIC PRESS RELEASE : G8 employability action plans published [May 1998]

The press release issued by HM Treasury on 9 May 1998.

Action Plans to show how the G8 countries are implementing seven principles to guide employment policy agreed at the “Growth, Employability and Inclusion” conference in London in February were discussed by G8 Finance Ministers today.

Commenting on the plans, published at the meeting of G8 Finance Ministers in London today, Chancellor of the Exchequer Gordon Brown said:

“The Action Plans show that the G8 countries are taking the seven principles agreed in London seriously and have made good progress since we met in February.

“The London Principles – including the need for structural reforms in our labour markets and to enhance employment, education and training opportunities for young people and adults to seek to prevent them becoming long-term unemployed – are being implemented.

“During the UK Presidency, we have focussed minds on action needed in the world’s largest economies to tackle unemployment and raise employment. We have an important framework in place to guide employment policy in the future. “It is important to keep these principles at the forefront of economic thinking in all countries. We need to share our experiences to generate new ideas to tackle these key issues.”

The seven London Principles to generate new job opportunities and to tackle unemployment and exclusion are:

• sound macroeconomic policies conducive to sustained non-inflationary growth and employment;
• structural reforms where needed in our labour, capital and product markets, including tackling barriers from inappropriate taxation or regulatory frameworks;
• fostering entrepreneurship and creating a climate favourable to SMEs, including through better access to venture capital;
• enhancing employment, education or training opportunities for young people and adults with the aim of preventing their becoming long-term unemployed and measures for groups such as lone parents and disabled people;
• reforming tax/benefit systems to foster growth and employment and to encourage those people who are unemployed or excluded from the labour market to look actively for work and find suitable employment, whilst protecting vulnerable groups;
• enabling and encouraging people to learn throughout their working lives – lifelong learning – to develop their knowledge and skills and improve their employability;
• promoting equal opportunities and combatting discrimination for all workers.