Category Archives: Nick Clegg
The schemes backed by the London Enterprise Panel (LEP) are in areas where ambitious regeneration plans are in place and where transport infrastructure will help unlock significant economic growth.
These schemes are set to deliver improved rail links between Tottenham Hale and the Upper Lee Valley; major road improvements in Bexley and support Ealing to harness the economic opportunities coming from Crossrail.
Collectively the projects could safeguard existing or create an estimated 45,000 jobs, support the construction of tens of thousands of homes and attract significant private investment into deprived areas.
The LEP’s adoption of these bids is a significant milestone for these projects and the proposals will now progress to a final stage, including more detailed work developing business cases, technical modelling and delivery mechanisms.
The Mayor of London, Boris Johnson, said: “Transport links are a vital precursor to economic development. This money is earmarked for investment into transport schemes which have significant potential to stimulate growth and job creation.
“I welcome the London Enterprise Panel’s assessment of which projects are best placed to do this and City Hall will now be working with the bid teams to progress these ambitious proposals.”
The bids approved by the London Enterprise Panel will provide extra services at Northumberland Park and Tottenham Hale, improving rail links between Stratford, the Upper Lee Valley and beyond including Stansted Airport.
Collectively with Angel Road Station improvements, this will support the commencement of the Meridian Water development and regeneration at Northumberland Park where there are plans for an estimated 3,500 homes and 500 jobs.
It will also support the development of an estimated 15,700 new homes, 21,900 new jobs in the Lee Valley and up to 15,000 jobs in adjoining areas.
£2.5 million allocated to upgrade Angel Road station and support regeneration in Enfield (bid from Enfield Borough Council). Angel Road station is vital to the regeneration of Enfield and specifically to support the Meridian Water development and regeneration in the Lower Lea Valley more widely.
Station improvements will increase passenger capacity through an enhanced commuter rail service and boost employment across wide range of trades in the building construction industry.
Britain’s Olympics has delivered a £2.5 billion boost in foreign direct investment (FDI) over the past year, bringing with it more than 31,000 jobs, according to preliminary figures published today.
The investment projects generated following the 2012 Olympics’ British Business Embassy programme of global business summits have helped ensure that the UK has again retained its position as the leading European destination for foreign direct investment.
The preliminary data published today at the Global Investment Conference shows that during 2012-13, UK Trade & Investment (UKTI) recorded 1,462 projects which brought with them or safeguarded 163,489 jobs. Of these 58,170 are new jobs – beating both the quantity of investment attracted and employment secured in the previous year.
The Prime Minister, David Cameron joined other high profile delegates from 40 countries at the Global Investment Conference, including the German and Canadian finance Ministers, Managing Director of the International Monetary Fund Christine Lagarde, global chief executive officers, sovereign wealth funds representatives and corporate investors.
Senior Ministers Chancellor George Osborne, Energy Secretary Ed Davey, Trade Minister Lord Green, Treasury Ministers Greg Clark and Lord Deighton and London Mayor Boris Johnson also spoke to delegates about the UK’s compelling offer as both a hub for global growth and an international investment destination.
Trade and Investment Minister Lord Green said: “Foreign investment creates hundreds of thousands of jobs and helps to increase the productivity and competitiveness of the UK economy. It’s a vital strand of the Government’s plan for growth.
“The 2012 Olympics were a once in a generation opportunity for the UK to showcase to the world Britain’s compelling investment offer and these preliminary figures are very encouraging. Despite strong competition from our traditional competitors and emerging economies, Britain has retained its position as the leading destination for foreign direct investment in Europe.
“To retain the UK’s enviable position as one of the most attractive global locations of choice, Britain will need to continue to work hard to attract high value foreign investment in the coming year and beyond.“
The preliminary data published today compares favourably with last year’s 1406 recorded projects (4% increase) and 112,659 jobs (45% increase). Of the 163,489 jobs, 58,170 are new jobs and 105,319 safeguarded jobs. UKTI and its partners were involved in delivering nearly 84% of the projects. Full results will be published in July.
The Budget sets out further action to build a stronger economy, with help for UK businesses to create jobs and kick-start major construction projects across England.
Chancellor Osborne said in Parliament today that the government was “already supporting the largest investment in railways since Victorian times and spending more on new roads than in a generation.”
The Government would now boost spending by £3 billion from 2015-16 with the money saved from departmental budgets, amounting to a total of £15 billion of extra capital spending in the next 10 years
The Chancellor has also announced a new Help to Buy scheme involving equity loans on new build houses and £130 billion mortgage guarantee programme that will help people to buy their new homes.
Chancellor George Osborne said that by investing in the arteries of the country’s infrastructure, the Government will get growth “flowing to every part of the country”.
The latest stimulus of financial support to tackle long-term shortage in the housing market will see the building of new homes and boost employment in the construction industry.
Mr Osborne said: “We’ve switched billions of pounds from current to capital spending since the spending review. But on existing plans, capital spending is still due to fall back in 2015-16. I don’t think that’s sensible.
“So by using our extra savings from government departments, we will boost our infrastructure plans by £3 billion a year from 2015-16.
“That’s £15 billion of extra capital spending over the next decade. Because by investing in the economic arteries of this country, we will get growth flowing to every part of it.
“And public investment will now be higher on average as a percentage of our national income under our plans than it was in the whole period of the last Government.
“In June, we will set out long term spending plans for that long term capital budget.
“And we will use the expertise of Paul Deighton, the man who delivered the Olympics and who now serves in the Treasury, to improve the capacity of Whitehall to deliver big projects and make greater use of independent advice.”
The British Property Federation has welcomed the Government’s funding increase to kick start the housing market and help a number of build-to-rent schemes.
Director of policy at the British Property Federation, Ian Fletcher, said: “It’s encouraging the Government’s confidence in build to rent has been reciprocated and we are delighted to see that the equity funding was heavily oversubscribed.
“Working in partnership with government the sector should deliver an exciting and quality array of homes for renters.”
What is your reaction to Budget 2013 announced by Chancellor Osborne to boost infrastructure spending and build new homes? Share your thoughts by commenting here or raise your voice on our Facebook and Twitter pages.
The 1.5 million sq ft residential-led development is based on the former Diary Crest site and is expected to create thousands of jobs in the construction industry and boost the trades.
Current plans include demolition of all existing buildings on the site and providing up to 1,150 new homes, business space, local retail and associated services, leisure and a range of community facilities comprising a multi-purpose community building incorporating basement and service level car parking.
The scheme will also see the building of an Urban Square, a public Central Garden Square with communal and private space available on site.
Development Director at Helical Bar, Matthew Bonning-Snook, said: “We are extremely excited about our proposals for Brickfields.
“The Eric Parry design code for the masterplan uses a predominantly natural palette of brick and stone to create sustainable and attractive buildings which, alongside the public realm and amenities, will form a genuine new London community.”
The brick-built homes will be a mixture of affordable, shared and private ownership. The developer and partner Aviva Investors also plan to build 150,000 sq ft of offices, retail and community facilities.
The site is part of the Mayor of London’s and Hammersmith and Fulham’s White City Opportunity Area, set to deliver thousands of new homes and jobs for the capital.
What is your reaction to the new residential development at White City that will see the building of new homes and boost employment in the trades? Share your thoughts by commenting here or raising your voice on our Facebook and Twitter pages.
The centrepiece of the 7-acre new Imperial West campus is the multi-million Research and Translation Hub for academics and business partners that will see the building of new homes, publicly accessible green space, pedestrian subways and leisure and retail facilities.
Imperial West is set to become a major new research quarter for London, reinforcing the capital’s position as a catalyst for scientific development and economic growth
Imperial bought the land for the new campus from the BBC in 2009. The first new building, which provides accommodation for over 600 postgraduates and early career researchers, has been occupied since September 2012.
Terms of the planning permission for the rest of the site were agreed with the London Borough of Hammersmith and Fulham in December 2012
Design work on the Hub, which is funded by investor Voreda and from the College’s own resources, is underway. The College plans to complete the construction in 2015.
Mayor of London, Boris Johnson, said: “London is home to some of the world’s leading universities and sharpest business minds.
“This fantastic venture will bring the best of both these worlds together turning brilliant ideas into jobs and economic growth and further bolster our reputation as the must-come destination for research and development.”
Minister for Universities and Science, David Willetts, said: “Imperial is one of our country’s great universities and the new Imperial West campus is a really exciting development. It will focus on translational work – on applying the excellent research that Imperial does to bring benefit to the wider world.
“The government strongly supports the vision and plans for the new campus and we look forward to seeing it grow and prosper in the future.”
What is your reaction to the new campus at Imperial College London that is forecast to create thousands of new jobs and boost the trades? Share your thoughts by commenting here or raising your voice on our Facebook and Twitter pages.
Construction work on site is set to start in summer 2013, paving the way for new trade jobs and boosting the building construction industry.
Peninsula Riverside forms part of a multi-billion master plan which will deliver 10,000 new homes to transform Greenwich Peninsula into London’s most exciting riverside community.
Max James, Chief Executive of Quintain said: “We are delighted that the Royal Borough of Greenwich has granted detailed planning consent for 506 homes at Peninsula Riverside.
This decision paves the way for construction work to start on site this summer delivering new jobs and homes; a positive step in transforming the vision for Greenwich Peninsula into reality.”
The 190 acre scheme has been given an outline planning consent by the Royal Borough of Greenwich. It will see the building of residentially led mixed-use development scheme with new homes spread across four quarters and a commercial district, including a 40-acre park.
Anthony Gill, Development Director for Greenwich Peninsula said: “The Peninsula Riverside development will continue the unstoppable momentum East London has enjoyed since the Olympic Games.
“The combination of affordable riverside living, just one tube stop from Canary Wharf and within 15 minutes’ reach of the West End, ensures Peninsula Riverside will become one of the most exciting new housing schemes in London.”
Richard Blakeway, Deputy Mayor for Housing, Land and Property, said: “Greenwich Peninsula, with its potential to deliver thousands of homes, including a large proportion of affordable housing, and jobs, is exactly the kind of development we want to see moving forward in London helping to boost the economy and accelerate the number of homes being built on GLA public land.”
Deputy Prime Minister Nick Clegg has announced £213 million of industry investment that will improve UK’s manufacturing supply chain and create 11, 000 new jobs.
In addition to the thousands of new jobs that will be created through the multi-million investment, some 5,000 existing jobs are set to be safeguarded.
Over £73 million has been awarded from Round 2 of the Advanced Manufacturing Supply Chain Initiative (AMSCI) to 12 national supply chain projects, and a further £140 million will be invested by business.
The scheme was open to bids from all manufacturing sectors as the Chancellor, George Osborne, announced an additional £120 million in the Autumn Statement for two further rounds of AMSCI funding.
Examples of winning bids include the creation of a ‘National Aerospace Technology Exploitation Programme’ led by the Aerospace Growth Partnership to address skills shortages and improve R&D collaboration in the aerospace sector.
The £35 million project will create nearly 5,000 jobs in the supply chain. Another successful bid, led by David Brown Gear Systems in Huddersfield, will position the UK as a world leader in the creation of large gearboxes for the next generation of offshore wind turbines.
Deputy Prime Minister Nick Clegg said: “Boosting jobs and growth is my number one priority to build a stronger economy. This investment will secure Britain’s future as a world leader in industries like cars, where we have traditionally taken the lead, and new technologies such as wind turbine gears and semiconductor chips.”
What is your reaction to the investment announced by Deputy Prime Minister Nick Clegg to improve the manufacturing supply chain and create thousands of new jobs? Share your thoughts by commenting here or raising your voice on our Facebook and Twitter pages.
The Construction Products Association (CPA) has called on the Chancellor George Osborne to recognise the potential of the construction industry to drive economic growth and create new jobs in the trades.
According to the Association, it is vital for the government to spend the multi-billion capital investment boost announced in the Autumn Statement that could provide 0.8% additional growth in GDP.
Chief Executive of the CPA, Diana Montgomery said: “With the general economic outlook continuing to look uncertain, we are urging government to do more to drive growth by building on the recent increase in capital investment for repair and maintenance of roads and extending this to other parts of built environment, such as housing, schools and hospitals.
“We also want to see the UK improve on its current ranking of 24th in the world for the quality of its infrastructure. For the UK economy to remain internationally competitive in attracting inward investment, it is essential that there are significant improvements in its infrastructure.
“Government frequently states it is aware of the importance of the construction industry and its product manufacturers and suppliers. In these challenging times for the UK economy, the opportunities that we provide to drive economic growth and build a more sustainable future for the UK need to be prioritised. We can only hope the Chancellor does indeed recognise this.”
To read the full draft of the letter from the Construction Products Association to the Chancellor, click here.
Nick Clegg has today transferred greater powers to local authorities across England to drive economic growth, build thousands of new homes and boost employment in the trades.
The Deputy Prime Minister has backed the ‘City Deal’ which aim is to grant more freedom, powers and tools needed for local government to shape their economic future and create new jobs.
Deputy Prime Minister, Nick Clegg said: “Even more places will be free from Whitehall control and have the tools to power their own growth. These deals help cities and their wider areas make once in a generation changes that will be felt by everyone across their region.”
Councils in England need to ease planning regulations and have greater control over funds to accelerate housing and residential developments.
According to Coventry and Warwickshire local authorities, the scheme is estimated to create around 30,000 jobs across the region and boost the trades.
The Coventry and Warwickshire Local Enterprise Partnership (CWLEP) that led the City Deal bid said it was pleased by the Government’s decision to drive economic development tand create new jobs in the area.
Sir Peter Rigby, chair of the CWLEP said: “This is great news for Coventry and Warwickshire and allows us to put our very exciting plans into place to do just what the LEP was established to do – to create jobs and economic growth and prosperity.”
The 20 cities and their outline proposals:
Black Country: want to use a City Deal to grow their high-value manufacturing sector. They want to build on the Black Country’s track record in designing, building and exporting components and products such as aircraft control systems, turbo technology and an extensive range of automotive components.
Bournemouth and Poole: want to use a City Deal to encourage a transition to a more balanced local economy by boosting Advanced Manufacturing (particularly marine and aerospace) as well as digital and creative industries.
Brighton and Hove: want to use a City Deal to realise the economic potential of their eco-tech sector. This is a new, and growing, sector in Brighton & Hove. The universities have developed specialisms in this area. Brighton and partners want to build on this and encourage more innovation and business growth.
Greater Cambridge: want to use a City Deal to unleash the next wave of the “Cambridge Phenomenon”, which is a cluster of high-tech firms that focus on biotechnology, software and electronics around Cambridge, many of which have links with Cambridge University. Greater Cambridge wants to spread the “brand” of Cambridge over a broader area by creating better links between the science and business parks (e.g. Babraham Research Campus), the city centre (where Cambridge and Anglia Ruskin Universities are based), strategic transport routes and key residential sites (including the new town development of Northstowe), as well as the Enterprise Zone at Alconbury.
Coventry and Warwickshire: want to use a City Deal to capitalise on existing strengths in advanced manufacturing and engineering and to support the expansion of this sector. Coventry and Warwickshire want to grow these sectors by raising the skill levels of the workforce by increasing the number of people with intermediate and high level engineering skills and encouraging greater innovation in the sector.
Hull and the Humber: wants to use a City Deal to maximise the potential of the Humber Estuary. The estuary is already a home to a chemicals and processing sector worth £6bn and has the highest tonnage throughput of any UK port. Humber now wants to grow the “Energy Estuary” by maximising these opportunities and the benefits of offshore wind investment – and to ensure that local people have the necessary skills to take up these opportunities.
Ipswich: want to use a City Deal to equip local people and businesses with the skills they need to take advantage of significant expansion in high value jobs through development of Sizewell and Felixstowe.
Leicester and Leicestershire: want to use a City Deal to accelerate the growth of key sectors in the economy (notably manufacturing and logistics) and to encourage greater commercialisation of research emanating from the three universities in the area (Loughborough, Leicester and De Montfort).
Milton Keynes and the South East Midlands: want to use a City Deal to deliver significant, sustainable growth in housing. Over the longer term, this will allow the local area, and South East Midlands, to attract and find homes for high-skilled workers to drive economic growth. In the shorter term, providing confidence to private sector developers will create jobs in construction and industry supply chains.
Greater Norwich: wants to use a City Deal to accelerate the growth of the internationally-recognised environmental and life sciences industry within the Greater Norwich area by focusing on the potential of Norwich Research Park.
Oxford and Oxfordshire: want to use a City Deal to accelerate the growth of the knowledge economy by building on the strong base (including significant clusters in bio-sciences, space technology and cryogenics), two world-class universities (Oxford and Oxford Brookes) and internationally-recognised ‘Big Science’ research centres (eg Culham Research Centre and Harwell Laboratories).
Plymouth: wants to use a City Deal to build on its strengths in advanced engineering and design, marine renewable energy, maritime and sub-sea operations and supporting technologies. It seeks to do this by increasing the commercialisation of research in these areas and increasing exports from its high growth companies.
Preston: has seen significant private sector growth in the last 10 years, largely driven by growth in small and medium sized businesses. Preston want to build on this and sustain further growth, particularly in the aerospace and advanced manufacturing sector by investing in infrastructure.
Reading and Central Berkshire: want to use a City Deal to ensure that local people have the skills they need to access local job opportunities. Reading wants to focus on ensuring that people have skills in the growing sectors (particularly construction, logistics and knowledge intensive areas) and to ensure school leavers have the soft “employability” skills businesses need.
Southend and South Essex: want to use a City Deal to increase investor confidence to increase the supply of good quality office space and housing which will accelerate business expansion.
Stoke and Staffordshire: want to use a City Deal to build on strong heritage to become the internationally competitive home for Advanced Materials businesses in Europe. They want to grow the advanced materials (metals, ceramics, polymers, etc.) sector and to promote the use in advanced manufacturing.
Southampton and Portsmouth: wants to use a City Deal to drive the growth and diversification of the maritime sector in the area. They are seeking to do this by supporting growth in the associated sub-sectors of transport and logistics, defence and advanced manufacturing, the visitor economy and the complex supply chains linked to research and innovation.
Sunderland and the North East: want to use a City Deal to expand their manufacturing base and to diversify and grow the city’s economy.
Swindon and Wiltshire: want to use a City Deal to capitalise on the strong military presence in the area. They seek to do this by increasing the number of spin-offs firms from developments in military technology and to harness the skills from ex-servicemen/women.
Tees Valley: wants to use a City Deal to establish a global super cluster of petrochemical and processing industries to compete on the world stage. They want to build on Tees Valley’s current industrial complex, which includes over 50% of the country’s petrochemical and a significant percentage of the pharmaceutical sectors. Such a super cluster would have at its heart the production of cleaner energy, containing new developing, and associated, sectors such as biofuels from waste and other forms of renewable energy such as offshore wind.