Knowledge economy 'fundamental' in countries rich or poor

“There is a powerful link between education and training and economic progress,” Secretary of State for Business Innovation and Skills, Vince Cable MP, told delegates at Going Global 2012.

Rt Hon Dr Vince Cable MP makes his welcome address

Source: Policy Review TV

Date published: 15 Mar 2012

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“It’s the so-called ‘knowledge economy,’ he said. “It is fundamental in countries whether they are rich or poor.”

Some would say: ‘Education isn’t just about business and economics, it’s about ideas and freedom of expression,’ and of course it is those things

Secretary of State for Business Innovation and Skills, Dr Vince Cable

Link to Going Global British Council website

Making a welcome address to the London conference, a British Council event for higher education leaders, the Rt Hon Dr Cable said that 20 years ago, globalisation was seen in terms of trade, foreign investment, banking and migration.

“We didn’t consider education,” he admitted.

“This is terribly out-of-date. Education is now global,” he continued.

He explained that in the UK, higher education, skills training and business come ‘under the same roof,’ in government.

“Some would say: ‘Education isn’t just about business and economics, it’s about ideas and freedom of expression,’ and of course it is those things,” he conceded.

“But what we’re trying to do in this country is establish an integrated approach between our economic policies and our approach to higher education and training.”

Dr Cable also listed some of the British Council’s achievements over the last few months, including establishing:

A training programme for Vice-Chancellors in Pakistan;

A memorandum of understanding with Libya to support education, higher education and skills development;

A scheme for university-industry partnerships in Japan mediated by the British Council.