The UK government published its response to the Hargreaves Review in early August 2011.
The response was published alongside the UK’s International Strategy for Intellectual Property, which identifies the priorities for UK policy-making and reform for the IP system. The government supported the review’s findings with various promises to implement them. The present plan is to implement many of the recommendations by the end of the current parliament—that is by June 2015.
The government recognises that IP is a significant contributor to the UK economy. In 2008, the UK economy saw £137 billion-worth ($224 billion) of intangible investments, beating tangible investments by some £32 billion ($52 billion). This makes the UK one of the largest exporters of intellectual property in the world. IP protection is seen as a driver of growth in the UK economy, especially in regard to its exploitation by small and mediumsized businesses.
Digital Copyright Exchange
Hargreaves Review, UK government