The National Institute aims to promote, through quantitative and qualitative research, a deeper understanding of the interaction of economic and social forces that affect people's lives, and the ways in which policies can improve them. The National Institute of Economic and Social Research is Britain's longest established independent economic research institute with over eighty years experience of applying academic excellence to the needs of business and policy makers. The Institute is independent of all party political interests. It receives no core funding from government and is not affiliated to any single university, although our staff regularly undertake projects in collaboration with leading academic institutions. The Institute's work falls into three distinct fields: economic modelling and macro analysis; education, training and employment; the international economy. Our research interests are constantly changing in response to new needs but embrace most of the issues that shape economic performance. The Institute is part of the EUROFRAME network, an initiative for improved forecasting and macroeconomic analysis in the European Union. The EUROFRAME network was founded at the end of 1998 by nine independent European research institutes that combine their knowledge in providing quantitative analysis, forecasts and policy recommendations for the European Union and for national decision makers. The Institute's work is influential world wide with subscribers to its publications in over seventy countries. The Institute's global model is used by some thirty prestigious organisations including several central banks and finance ministries. NIESR conducts its research to high ethical standards. To this end it adheres to the code of the Social Research Association. NIESR researchers ensure that their research complies with this code.