Danger of red tape to firms.THEUK is in danger of losing the ``jewel'' in its economic crown because of a relentless build-up of employment regulations and appallingly low level of basic skills, the CBI CBI abbr. cumulative book index CBI Confederation of British Industry CBI n abbr (= Confederation of British Industry) → C.E.O.E. has warned. The Business Group voiced concern among leading employers about declining competitiveness, which it said was sparked by increases in regulation and taxation, as well as slow progress on improving transport and basic skills of workers. Competitor countries such as the US,Germany, France, Spain and Holland were closing the gap on the UK, partly because they were removing layers of labour regulation while this country was moving in the opposite direction, according to the report. Digby Jones, director general of the CBI, said: ``Labour market flexibility Labour market flexibility refers to the degree in which labour markets quickly adapt to fluctuations and changes in society as well as in the economy or production. In the past, the most common definition of labour market flexibility was the neo-liberal definition. has been a jewel in the crown of the UK economy for 20 years but other countries are threatening to steal that jewel. In areas where the UK is strong we are moving in the wrong direction.'' The CBI said the impact of employment legislation meant firms hadless freedom to organise work patterns, set wages and adjust the workforce. Poor literacy and numeracy numeracy Mathematical literacy Neurology The ability to understand mathematical concepts, perform calculations and interpret and use statistical information. Cf Acalculia. affected 20pcof adults. |
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