EDUCATION is the key to improving business performance.

That was the message from Jonathan Shaw, MP for Chatham and Aylesford, when he addressed a seminar for 40 accountants, solicitors and business professionals at Aylesford Priory, near Maidstone.

The event was organised by Lloyds TSB Corporate who also fielded their own financial expert, Rosa Nunez Delgado, to advise delegates how businesses in Maidstone and Medway could improve their performance.

Mr Shaw (Lab), who is a member of the Commons Education Select Committee, said: "India is producing a million graduates each year and the Chinese economy is growing at an enormous pace.

"Employers need people coming into the workforce who can play a part in maintaining Britain's competitiveness in an increasingly global economy. We need to move away from traditional thinking about educating our young people."

Mrs Delgado gave an outline of the City's views on how local businesses can protect themselves against the risk of rising interest rates.

She said: "Taking steps to hedge against interest rate risk does not involve a gamble, but guarantees certainty and allows for accurate business planning. By contrast, doing nothing is taking a gamble that rates will not rise."