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Technology investment key - Brown | |
(about 4 hours later) | |
Gordon Brown has said more investment is needed in technology and environmentally friendly industries in an effort to tackle the downturn. | |
The prime minister held Downing Street talks with French President Nicolas Sarkozy and Jose Manuel Barroso, head of the European Commission. | |
Afterwards he said technology could help governments in their efforts to "invest out of the downturn". | |
EU leaders are to hold an economic summit in Brussels later this week. | |
Also taking part in Downing Street meetings were representatives of companies including Vodafone, Tesco, British Telecom, the National Grid, Corus, Prudential and Diageo. | |
'Infrastructure' | |
Mr Brown said: "We have looked at how, just as many years ago investment in road and rail and infrastructure was a powerful stimulus to the economies then, so too in this new age we can invest in the digital infrastructure for the future." | |
He added that areas to be looked at included telecommunication, environmentally related industries and new environmental technologies. | |
The aim was "to build the technological and environmental infrastructure of the 21st century as we invest out of the downturn", Mr Brown said. | |
In November the European Commission unveiled an economic recovery plan worth 200bn euros (£170bn) - including at least 5bn euros to help the car industry develop green technologies. | In November the European Commission unveiled an economic recovery plan worth 200bn euros (£170bn) - including at least 5bn euros to help the car industry develop green technologies. |
Last week France became the latest of the biggest European economies to unveil a fiscal stimulus package. | Last week France became the latest of the biggest European economies to unveil a fiscal stimulus package. |
Britain has already unveiled a £20bn (23.6bn euros) plan - which includes a cut in VAT, but the prime minister's spokesman has indicated more needed to be done across Europe. | Britain has already unveiled a £20bn (23.6bn euros) plan - which includes a cut in VAT, but the prime minister's spokesman has indicated more needed to be done across Europe. |