Category Archives: David Cameron

Inward investment on the rise as Olympics brings £2.5bn to UK economy

Inward investment on the rise as Olympics brings £2.5bn to UK economy

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.

Cameron sets out plans to boost the trades and create new jobs

David Cameron has today unveiled fresh plans to unlock the planning system which will accelerate major construction projects across England and create new jobs.

Speaking at the CBI’s conference in London, the Prime Minister said the Government will embark on radical reforms to speed up key decisions that will boost economic growth and “eliminate bureaucratic rubbish”.

In a wide-ranging keynote speech, Mr Cameron said the UK was in the “economic equivalent of war” but hailed signs that Britain was again “selling to the world”. “Frankly, we need this buccaneering, deal-making, hungry spirit now more than ever,” he said.

The prime minister said he had taken “massive steps towards leaner, faster government” but acknowledged that more needed to be done to speed up decision making.

“We urgently needed to get a grip on this,” he said. “Whitehall had become too risk-averse – too willing to say ‘no’ instead of ‘yes’”.

Mr Cameron said the Government would restrict the use of “time-wasting” judicial review applications and reduce the time limit for people to bring their cases as well as charge more for reviews.

He also pledged to stop a “new torrent of rules and regulations” from Brussels that threatened to slow the development of county’s economy, pledging to ensure that new roads and infrastructure projects are build more quickly and efficiently.

You can read the full speech of Prime Minister David Cameron from here.

Land Securities’ boost for UK jobs and the trades

Land Securities has been given the go-ahead to start a £350 million Kingsgate redevelopment that will create 2,500 jobs throughout its construction and boost the trades.

The announcement comes after the Prime Minister, David Cameron, visited the site and showed his support for the project in an attempt to prevent planning levy for local infrastructure being double-charged and cut red tape.

David Cameron said: “Already the changes we are making to the planning system are having an impact, with Land Securities giving the go-ahead to a major multi-million pound investment, supporting thousands of jobs in our construction industry.”

The scheme is designed by Lynch Architects and it comprises of two new buildings: The Zig Zag Building, a 190,000 sq ft office building over 14 floors with a staggered façade; and Kings Gate, a 12 storey residential building comprising 100 apartments.

Both buildings will provide a new and enhanced retail space with 45,000 sq ft of space, together with considerable improvements to the public realm benefitting the wider Victoria area. The buildings are planned to complete in summer 2015.

Robert Noel, Chief Executive of Land Securities said: “It is heartening to know that the Government has listened to the industry and acted to remove some of the uncertainty in the planning process.

“It enables us to progress with developing the former Kingsgate House site and continue to transform Victoria into a distinct and vibrant West End hub where people choose to live, work and visit.

“Our experience with our current developments demonstrates that Victoria is proving attractive to potential occupiers. This project will further add to its appeal.”

The scheme will also provide an affordable housing contribution of £11.6 million which will be directed towards the provision of affordable development in the Westminster area.

What is your reaction to the multi-million development that will pave the way for new trade jobs? Share your thoughts by commenting here or raising your voice on our Facebook and Twitter pages.

Clean Energy of Northern Seas to Boost the Renewable Industry

Over forty organisations have today joined forces to set out a long-term vision for the development of offshore wind in the northern seas that will boost the green economy and create new jobs.

The new network, called Norstec, includes world leading manufacturers, cutting-edge developers, supply chain firms as well as industry bodies representing the trades.

Its mission is to maximise the energy potential generated across the northern sea region which will benefit businesses in the renewable industry and boost the trades.

Prime Minister David Cameron, who first introduced Norstec at the Clean Energy Ministerial in April, emphasised on the benefits offered by the production of clean energy and encouraged the use of renewable resources.

Mr Cameron said: “I continue to be strongly supportive of the UK offshore renewables sector and am delighted to see Norstec rising from the waves.

“As I said, when I launched this network last April, we are on the cusp of a second, clean energy revolution in the North Sea. Close collaboration between industry and government will be critical to making this happen.”

Energy and Climate Change Secretary, Edward Davey, said: “The offshore wind industry represents a massive growth opportunity for the UK and our neighbours around the northern seas, bringing jobs and re-energising once thriving industrial heartlands on the East Coast and beyond.

Mr Davey said that the Government is determined to work closely with businesses in order to make the most from offshore renewable resources.

He said: “Norstec will help the offshore wind industry in the northern seas to grow and create a new industrial revolution, driving economic growth across this part of Europe. I’m delighted to see the potential for offshore wind deployment in the northern seas set out so clearly and vividly.”

 

Olympic and Paralympic Success to Boost Business Growth

Trade Minister Lord Green and Olympic Ambassador Sebastian Coe vowed today to build on the success of the Olympics and Paralympic Games by working with industry to promote British skills around the world.

An Olympics Legacy programme of trade missions and companies in the building construction sector will build on the successful completion of the Olympic venue which is set to bring £13 billion to the UK in the coming months and years.

Olympics Legacy Ambassador to the Prime Minister, Sebastian Coe, said that the Olympic legacy which London 2012 left is ‘once-in-a-lifetime’ opportunity to showcase British business excellence to the world.

Coe, who is also a double Olympic Champion and 12-time world record holder in athletics, said: “The extraordinary success of the London 2012 Games has shown the best of Britain to the world and now our focus turns to securing a lasting legacy. We have already witnessed the incredible regeneration of east London, with world class facilities and a new urban park created.

“We now need to ensure that organisations up and down the country use the positive impact generated by the Games to reach out to new markets and grow their businesses.

“The British Business Embassy at Lancaster House has brought together business leaders from the UK and all over the world in a showcase of Britain’s industrial strengths and successes.”

Trade and Investment Minister, Lord Green, said that the Games have provided excellent chance to enhance Brittan’s business links with the rest of the world that will bring significant investment to the economy.

Mr Green said: “The British Business Embassy has hosted 4,000 business people from large and small firms alike. The connections they have made will deliver real economic dividends.

“We are now working hard, alongside firms around the country to follow up the contacts, networks, announcements and momentum created by the Games.”

New Trade Jobs as Cameron and Clegg Boost Planning Reform

“Deputy Prime Minister Nick Clegg says on TV that the Government’s planning changes are boost to solo traders in the trades”

The government is easing the planning rules on extending homes in England as part of a package to boost housebuilding and stimulate economic growth.

The Prime Minister and Deputy Prime Minister have announced a major housing and planning package which is set to build 70,000 new homes and create up to 140,000 construction jobs.

Speaking to BBC News this morning Nick Clegg said that people will be allowed to build up to 8-metre larger extensions to their houses without needing a planning permission. He argued that the relaxation of the planning regulations will create jobs and boost those professionals who are already working in the trades.

Clegg said: “The planning changes mean that people will get the local builder to extend their kitchen or conservatory which will create jobs and stimulate economic activity.”

The Deputy Prime Minister said that the package announced today includes investing hundreds of millions of pounds into building more affordable homes as well as a £40 billion guarantee for infrastructure projects to support the building construction industry.

The Prime Minister, David Cameron, said in a statement that the Government’s announcement will help people to build new homes and ‘kick-start’ the economy.

Mr Cameron said: “We’re determined to cut through the bureaucracy that holds us back. That starts with getting the planners off our backs, getting behind the businesses that have the ambition to expand and meeting the aspirations of families that want to buy or improve a home.”

Housing stimulus package includes:

  • Removing restrictions on house builders to help unlock 75 000 homes currently stalled due to sites being commercially unviable. Developers who can prove that council’s costly affordable housing requirements make the project unviable will see them removed.
  • New legislation for Government guarantees of up to £40 billion worth of major infrastructure projects and up to £10 billion of new homes. The Infrastructure (Financial Assistance) Bill will include guaranteeing the debt of Housing Associations and private sector developers.
  • Up to 15,000 affordable homes and bring 5,000 empty homes back into use using new capital funding of £300m and the infrastructure guarantee
  • An additional 5,000 homes built for rent at market rates in line with proposals outlined in Sir Adrian Montague’s report to Government on boosting the private rented sector
  • Thousands of big commercial and residential applications to be directed to a major infrastructure fast track and where councils are poor developers can opt to have their decision taken by the Planning Inspectorate.
  • Calling time on poor performing town hall planning departments, putting the worst into ‘special measures’ if they have failed to improve the speed and quality of their work and allowing developers to bypass councils. More applications also will go into a fast track appeal process.
  • 16,500 first-time buyers helped with a £280m extension of the successful ‘FirstBuy’ scheme, which offers aspiring homeowners a much-needed deposit and a crucial first step on the housing ladder.
  • For a time limited period, slashing planning red tape, including sweeping away the rules and bureaucracy that prevent families and businesses from making improvements to their properties, helping tens of thousands of home owners and companies.

 

Olympic Investment Event to Create Jobs and Bring Economic Boost to Britain

Speaking today at the largest trade and investment event ever held in Britain, Prime Minister David Cameron said that the £8 billion development of the Battersea Power Station in South West London will create 20, 000 jobs during its construction.

The mixed development will contain homes, office space, a hotel and retail space and will see the Northern Line extended with a new transportation hub at the Power Station site.

The Global Investment Conference, launched by the Prime Minister, is the first of a series of global business summits being held in London to showcase the UK during the Olympic and Paralympic Games. The event is expected to generate hundreds of thousands of new jobs for people in the trades.

The conference kicks off the largest and most ambitious set of trade events held in Britain. During the six weeks of the Games, the British Business Embassy will host 17 global business summits that will bring over £1 billion of deals and projects.

These events will allow more than 4,000 business leaders and politicians to exchange views and ideas, discuss local and international economic challenges as well as develop strong global partnerships for future growth and showcase the best of British business to the world.

Chancellor George Osborne said: “Britain has always been a country that is open to the world. In hosting the Olympic Games, we are showcasing that openness. As we welcome the world’s best athletes, we also welcome the world’s best companies – so that they can succeed, invest, and create jobs in Britain.”

Business Secretary Vince Cable said: “Tomorrow we welcome the world to London as the 2012 Olympic Games get underway. This summer is more than just a great sporting spectacle – it is an unrivalled opportunity to promote the best of British industry and make the most of our openness to foreign trade and investment.”

This month, the UN’s World Investment Report showed that the UK had retained its place as the number one destination in Europe for inward investment. The report showed that there were almost 60,000 new jobs created last year as a result of inward investment.

 

What is your reaction to the Global Investment Conference that could bring billions of pounds to the UK economy?  How much of an impact will the Olympics have on your business? Share your thoughts by commenting here or raising your voice on our Facebook and Twitter page.

Good News for the Trades as the Government Unveils a £9 Billion Investment in Rail Infrastructure

“Growth-boosting railway projects to help for the creation of new electrical, plumbing and engineering jobs”  

The Government has announced a £9.4 billion infrastructure investment package that will deliver sustainable economic growth and pave the way for thousands of new jobs for people in the trades, the Department for Transport revealed today.

The plan includes the electrification of a number of railway schemes including the Midland Main Line between Bedford and Sheffield creating new jobs in the electrical engineering sector.

Other rail improvements contributing for the creation of more employment opportunities for trade professionals including electricians and engineers, have been announced for the Manchester area, south Wales and East Coast Main Line

Prime Minister David Cameron called it the “biggest modernisation of our railways since the Victorian era” with the deputy Prime Minister, Nick Clegg, naming it as “the biggest expansion in railways in over 150 years”.

The £9 billion investment of growth-boosting railway upgrades across England and Wales will mean faster journey, more reliable services and an increased capacity for 140,000 extra daily commutes, Transport Secretary Justine Greening said in a statement.

Prime Minister David Cameron said: “From Crossrail, high speed rail and now the billions of pounds of investment we are announcing today, this government is committed to taking the long term decisions to deliver growth and jobs.

“In what is the biggest modernisation of our railways since the Victorian era this investment will mean faster journeys, more seats, better access to stations, greater freight links and a truly world class rail network.”

Chancellor of the Exchequer George Osborne commented he was pleased with the government’s decision to fund in full the Northern Hub which will help rebalance the UK economy and enable future economic growth throughout the regions.

Mr Osborne said: “This government is making more funds available to invest in rail projects than at any time since the Victorian era, and shows that the government is committed to delivering on its promises to support investment in public infrastructure that will support economic growth.”

As reported on the BBC website some of the newly announced major improvements include:

  • Electrification – completion of the Midland Main Line from Bedford to Sheffield costing £800m, local lines in the Welsh Valleys, costing £600m, and an extension of the already-announced electrification between Manchester and Leeds
  • The Northern Hub – a series of projects around Manchester worth £322m that improve northern rail capacity to get more and faster trains across the north of England
  • Upgrades to the East Coast Main Line from London to Leeds and Newcastle worth £240m to create faster journeys and capacity
  • The reopening of the east-west link from Oxford and Aylesbury to Milton Keynes
  • Electrification of the lines from London to Bristol and Cardiff, and from Manchester to Liverpool, Blackpool and Leeds
  • Upgrades to stations and tracks creating capacity for an additional 140,000 daily rail commutes at peak times, including £350m for lengthening platforms at London’s Waterloo station

 

What’s your reaction to the huge investment in rail infrastructure projects across England and Wales which is expected to boost the economy and create new jobs? Share your thoughts by commenting here or raising your voice on our Facebook and Twitter page.

 

The Construction Sector could bring 215,000 jobs across the UK

“The CBI is urging the government to get its act together and accelerate infrastructure investment”

The CBI Director General, John Cridland, has urged the government in a Financial Times interview to speed up the implementation of its plan for economic growth by accelerating housing and infrastructure projects across the UK. 

The head of Britain’s top business lobbying organisation criticised the government over some delays in road improvement plans and the failure to agree renewable energy subsidies, which according to the CBI are vitally important for boosting economic growth.

“I think it is really disappointing how long it is taking to get momentum and urgency into the growth plan.” The Director General told the Financial Times.

Meanwhile, CBI Director for Business and Environment, Rhian Kelly launched, Creating Britain’s future, a new campaign for the UK’s Contractors Group, highlighting the crucial role that the construction sector plays for the creation of new jobs.

Ms Kelly said: “Our analysis shows that the construction sector has the potential to create 215,000 jobs across the UK and throughout the supply chain.

“It is more important than ever that we recognise the role of construction, both as a catalyst for local job creation across the UK in the short-term, and as the lead mover in the £250bn infrastructure renewal needed to underpin economic growth in the long-term.

“To get spades in the ground on infrastructure delivery, there must be an urgent focus across the UK on bringing forward repair, maintenance and improvement projects, for example on roads, to deliver immediate and tangible results in terms of local jobs and growth.”

Do you share the view of the CBI about the huge potential for growth and the creation of new jobs in the construction industry?  How viable do you think is this statement for your business? 

 

 

CBI Urges the Government to Boost Infrastructure

The Confederation of British Industry (CBI) has urged the government to boost economic growth by giving a greater emphasis on infrastructure projects in the UK.

In a new report published today, the CBI has recommended to the Treasury to enhance the credit rating of government construction schemes and raise public funds that will secure private business investment, unlocking billions of pounds to the UK economy.

According to the CBI Director-General, John Cridland, infrastructure investment will offer the UK a sustainable growth development that businesses need.

Mr Cridland said: “As this report makes clear, if we want to see the billions of pounds needed to upgrade our ageing infrastructure and secure jobs and growth for the long-term, the Government must make smarter use of limited public finances. By underpinning and lifting the credit rating of certain infrastructure assets, it can make them less risky and more attractive to investors.

The CBI says that harnessing just a 1 per cent increase from the UK’s pension fund will give a ‘vital boost’ to the UK’s underfunded infrastructure networks and make them more attractive to investors.

Do you welcome the recent report by the CBI that urges the government to make significant improvements to infrastructure schemes in the UK? Share your thoughts by leaving a comment below or adding your voice on our Facebook Page

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