Department of Trade and Industry

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Department of Trade and Industry (DTI)

the UK Government office which is primarily responsible for implementing and administering the Government's industrial and trade policies. A particular concern at the DTI is the promotion of greater efficiency through an INDUSTRIAL POLICY programme, which includes support for new business start ups, consultancy services for small firms, research and development, and technology transfer. In the past, the DTI has been required by governments to involve itself in the rationalization of declining industries and support for ‘failing’ firms, but now the emphasis is very much on fostering greater enterprise by business itself, with a minimum of direct State intervention. See SMALL BUSINESS SERVICE.

The DTI is responsible for the operation of REGIONAL POLICY (including the REGIONAL DEVELOPMENT AGENCIES), vetting applications for regional selective assistance by firms investing in the ‘assisted areas’. The DTI works closely with the OFFICE OF FAIR TRADING in matters affecting COMPETITION POLICY in general, and MERGER and TAKEOVER investigations in particular; the DTI regulates the formation of companies and their conduct through the REGISTRAR OF COMPANIES, and is responsible for issuing licences to deposit-taking institutions and authorizing dealers in stocks and shares, etc. (see FINANCIAL SERVICES ACT 1986). Finally, the DTI plays a prominent part in the running of the UK's overseas trade affairs, representing the country's interests at international (WORLD TRADE ORGANIZATION) and regional (EUROPEAN UNION) levels. The DTI in conjunction with the foreign office through the Trade Partner organization is important in the promotion of exports through the Export Market Information Centre, British Overseas Trade Board and related back-up facilities and services, including the EXPORT CREDIT GUARANTEE DEPARTMENT (see EXPORTING).

In 2002 the DTI's disparate range of support programmes (over 150) was streamlined and re-grouped under three main divisions: Business Support and Regional Policy (including the Small Business Service and the Regional Development Agencies); Competitiveness and Regulation (including trade policy, competition policy and consumer and employee protection); Science Technology and Innovation (including the SMART scheme). See CONSUMER CREDIT ACT 1974, LOAN GUARANTEE SCHEME, PRICES ACT 1974, PRICE MARKING (BARGAIN OFFERS) ORDER 1979, TRADE DESCRIPTIONS ACT 1965, TECHNOLOGY TRANSFER.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

Department of Trade and Industry (DTI)

the UK government office that is primarily responsible for implementing and administering the government's industrial and trade policies. A particular concern at the DTI is the promotion of greater efficiency through an INDUSTRIAL POLICY programme that includes support for new business start-ups, consultancy ervices for small firms, research and development, and technology transfer. In the past, the DTI has been required by governments to involve itself in the rationalization of declining industries and support for ‘failing’ firms, but at the present time the emphasis is very much on fostering greater ‘enterprise’ by business itself with a minimum of direct state intervention. See SMALL BUSINESS SERVICE, BUSINESS LINK.

The DTI is responsible for the operation of REGIONAL POLICY, vetting applications for regional selective assistance by firms investing in ASSISTED AREAS. The DTI works closely with the OFFICE OF FAIR TRADING in matters affecting COMPETITION POLICY; the DTI regulates the formation of companies and their conduct, through the COMPANY REGISTRAR, and is responsible for issuing licences to deposit-taking institutions and authorizing dealers in stocks and shares, etc. (see FINANCIAL SERVICES ACT 1986). Finally, the DTI plays a prominent part in the running of the UK's overseas trade and investment affairs, representing the country's interests at international (WORLD TRADE ORGANIZATION) and regional levels (EUROPEAN UNION). The DTI is important in the promotion of exports and foreign investment through the TRADE PARTNERS network and related back-up facilities and services including the EXPORT CREDIT GUARANTEE DEPARTMENT.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
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