Posts tagged economic recovery
It is the first time that an All-Party Parliamentary Group has taken a trade mission on a visit to a market in conjunction with UK Trade & Investment (UKTI).
Infrastructure opportunities are growing rapidly in the South East Asia region, which includes some of the fastest-growing markets. The region is predicted to be the fourth largest market in the world by 2030.
The mission is set to start in Singapore where the group will meet key figures from the public and private sector education and business communities.
Trade and Investment Minister Lord Green said: “Getting more companies to export and attracting high-quality investment to the UK are key planks of the government’s Plan for Growth. Indonesia and Singapore are high growth markets and I am delighted to see this mission taking place.”
In 2011 UK goods and services exports to Singapore totalled £7.8 billion (+7.4% on 2010), making Singapore the UK’s largest trading partner in Southeast Asia. Opportunities in Singapore include machinery and transport, which is the largest UK goods export sector to Singapore.
MP Margot James said: “I am delighted to be leading this mission, the first by the All-Party Parliamentary Group for Trade and Investment.
“This trade mission is a fantastic opportunity to give British companies access to the exciting and growing markets of Singapore and Indonesia which are vital to delivering the UK’s economic growth agenda.”
The UK is ranked 20th largest exporter to Indonesia and the 3rd largest among EU member states. The UK’s largest exports to Indonesia include power generation equipment; general industrial machinery, road vehicles, pulp and waste paper and specialised machinery.
What is your reaction to the trade delegation in Singapore and Indonesia this week to strengthen business ties and create new jobs? Share your thoughts by commenting here or raising your voice on our Facebook and Twitter pages.
Communities that host onshore wind farms could benefit from reduced electricity bills and investment in local infrastructure, Energy Secretary Edward Davey said today.
The Department of Energy and Climate Change has launched a consultation into how communities could benefit from having wind farms near them which could boost the green industry and create new jobs.
The community benefits consultation will seek new information on how wind farms could deliver wider environmental and social benefits to communities.
It is aimed at encouraging participation by local businesses in the economic supply chain for wind projects as well as providing new employment opportunities for the renewable industry.
Energy Secretary Edward Davey said: “This new call for evidence will look at ways to reward host communities and ensure that wider investment, employment and social benefits are felt locally.
“We must also ensure that our policies are based on the best available evidence, so that consumers are not over-subsidising any one technology. That’s why we are seeking new evidence on the cost of onshore wind.”
Energy Minister John Hayes said that the new consultation is evidence that both parties in the Coalition are alive to the need for fresh thinking about the green economy.
Mr Hayes said: “Appropriately sited onshore wind has a role to play, but if we’re to make this work in a way that garners popular support, we’ve got to see a big improvement in how developers engage with local communities, new ways of ensuring a sense of local ownership and more obvious local economic benefits.”
The “Jobs for Growth” programme, which was officially launched today, is now the UK’s biggest coalition of companies making the case for investment in the building of new homes to quickly stimulate growth and generate jobs.
The organisation is targeting specific areas in the UK construction sector, reaffirming that there are significant benefits for investing in housebuilding and infrastructure projects.
For example, every £1 spent in construction generates £2.84 in economic activity, whilst 92% of the investment is retained in the UK, supporting manufacturing and the skills which the country needs.
Jobs for Growth founder Mike Leonard said: “The UK needs jobs and growth, and building our way out of recession is now the only solution left to Government.
“After a golden summer of sporting achievement, we need to capture some of that Olympic spirit, positivity and determination and go for gold in Jobs and Growth.”
Mr Leonard said: “Over the coming months we will work closely with all our local and national politicians, banks and other decision influencers to build the case for Jobs and Growth.
“We have the demand, the will, the land, the materials and the skills to make this happen. With the same level of focus, commitment and pride demonstrated by our athletes this summer, the building industry can lead Britain out of recession.”
“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?
The Scottish Government is going to invest more than £2 billion in a new energy efficiency scheme that will insulate thousands of new homes across Scotland and create new jobs for people in the trades.
The new investment will be delivered over the next ten years in a national programme that will transform aging houses, reduce heating costs and improve energy efficiency in Scottish homes.
Commenting on the £2 billion programme, Cabinet Secretary for Infrastructure and Capital Investment, Alex Neil explained it is essential to put such measures in place in order to improve the energy efficiency of homes across Scotland. He also emphasised the importance of the project for the creation of new jobs and future economic recovery.
Mr Neil said: “These strategies provide a great opportunity for Scottish businesses and can provide a real boost to our economy. Working with the energy companies, we plan to ensure investment of over £2 billion pounds is provided over the next ten years to ensure our housing stock is energy efficient.
“New technologies, which would bring down carbon emissions as well as household fuel bills, are key to energy efficient homes and a vital element in economic recovery.
“The drive to transform new-build through innovative design and construction approaches creates economic and export opportunities for Scottish companies, along with an opportunity to make greater use of Scottish timber in innovative products.”
What is your reaction to the £2 billion investment that will boost the building construction sector? Share your thoughts by commenting here or raising your voice on our Facebook page.
Business leaders at the Confederation of British Industry (CBI) have called on the government to bring forward a higher level of investment to the construction sector in a bid to stimulate the building engineering industry and create hundreds of thousands of new jobs.
In a report published by the CBI, it has become clear that construction businesses want to see more funds for repair, maintenance and improvement works which will create jobs and stimulate economic growth.
The report says: “The government has a ready-made mechanism to tackle the current activity gap and create jobs in the immediate future by stimulating repair, maintenance and improvement (RMI) work.
“RMI work can deliver jobs quickly on the ground across all regions, including creating openings for unemployed young people as its nature offers ‘hands-on’ jobs suitable for school-leavers.
“In addition, RMI projects generally have the advantage of shorter procurement timescales.”
The CBI is also calling on central and local government to “ensure that existing and planned RMI schemes such as the Priority School Building Programme and Green Deal are swiftly and competently delivered.”
The report states: “Developing more specific pipelines of construction work (for three to five years ahead for example) would help attract private sector investment locally and support the creation of local construction jobs.
“Knowing what’s around the corner in any given location would enable firms of all sizes across the supply chain to better identify, prioritise and plan their investment, striking up constructive dialogue with local stakeholders early on.”
The CBI’s Action for Jobs Progress Report also calls the government for fresh action on:
- Aligning school funding with employment as well as academic outcomes
- Boosting school-business links in every local community with local organisers in every area making it easier to get involved in leading schemes
- Making work experience a statutory right for 14 to 16 year-olds
- Investing more in apprenticeships – both at a higher level and in pre-apprenticeship courses which help young people without skills get on high-quality training schemes
- Introducing a comprehensive ‘readiness-for-work’ assessment at Job Centre Plus, to help people focus on returning to work.
What is your reaction to the CBI’s call for a further investment in the construction industry which will prove vitally important for the creation of new jobs? Do you agree with UK’s top business organisation?
Proposed plans for building the UK’s first nuclear power station in Somerset will be debated by planners and local authorities, the BBC reported today.
More than 5, 000 new jobs in the building construction industry could be created in the first phase of the project, if the planned nuclear power station near the Bristol Channel, in South West England, is given the green light by the government next year.
One of Britain’s largest energy suppliers, EDF Energy, announced last week the selection of the preferred bidder for carrying out civil works to build the proposed new nuclear power station at Hinkley Point C in Somerset.
This contract is the first relating to the main construction work which will see up to 25,000 jobs created on site over the course of the project, including an estimated 400 apprenticeships, Laing O’Rourke announced.
EDF’s Chief Executive, Vincent de Rivaz, said: “The civils contract will assist the UK’s economic recovery and boost economic prospects and prosperity locally. Our project will inject billions of pounds into the economy, revitalise entire sectors of industry and support tens of thousands of further jobs.”
Chairman and a Chief Executive of Laing O’Rourke, Ray O’Rourke, commented: “We are delighted, along with our partner Bouygues Construction, to be appointed by EDF Energy as preferred bidder to lead the development of the first new nuclear power station, which is vital to meet the UK’s future energy demands and support the wider economic recovery.”
Do you welcome the building of UK’s first nuclear power station in Somerset? What are the implications of this project for you/ your business? Share your thoughts by commenting here or raising your voice on our Facebook page.
“Green Investment should play a key role in the UK’s economic recovery” states a new report by the Environment Audit Committee published today.
The new report, “A Green Economy” reinforces calls by the Renewable Energy Association (REA) for the Government to put renewable energy at the heart of its economic recovery and employment strategy.
The Report on employment and skills in the UK renewable energy published last month showed that there were over 100,000 people employed in renewable sector across Britain, generating a turnover of £12.5 billion last year alone.
However, the REA is warning that there is a danger for Britain not to fulfil its full potential because of serious skills shortages and uncertainties in the policy framework.
The organisation which represents renewable energy producers in the UK, says that 400,000 people will be needed in the sector by 2020 to meet binding EU targets, suggesting that the renewable industry will need a skilful workforce to deal with continually increasing demand.
Chief Executive of the REA, Gaynor Hartnell, said that the government needs to understand the potential benefits of renewable energy investment.
Ms Hartnell said: “Several countries, from America to Japan to Germany, have realised that taking the long-term view and investing in renewables is a significant step on the route out of economic malaise. The UK renewables industry wants to work with the Coalition Government to realise the huge contribution our sector can make to jobs, growth and prosperity.”
Do you agree that renewable energy investment is a key factor that will pave the way for more jobs and an economic recovery? Share your thoughts by leaving a comment below or adding your voice on our Facebook Page:
The UK’s Green Business Building Council (UK-GBC) has urged the government to show renewed leadership on green issues which will create more jobs and encourage economic growth.
Appropriate government intervention in energy schemes, more incentives for the development of green infrastructure and strong support for businesses across Britain should be the key priorities for the government to get Britain’s economy back on track, according to the Chief Executive of UK-GBC, Paul King.
The CEO thinks that despite the current economic difficulties in the construction industry, the government could do more to help economic recovery by making sustainable investment into the green economy.
He said: “The construction sector is suffering at the moment but it could play a key role in getting the UK’s economy back on track – with energy efficiency and green infrastructure central to economic recovery. Unfortunately, deregulation is not a miracle cure – in fact we probably need greater intervention from Government – for example bringing in incentives like reduced Stamp Duty to encourage households to take up the Green Deal, and helping the commercial sector cut energy use.”
Responding to the Queen’s Speech to Parliament, Mr King said: “We really need to see the Energy Bill announced today provide a vehicle for the long-awaited roll-out of Display Energy Certificates, which would help UK businesses save money.”
Do you think the government could do more to help the growth of Britain’s economy? Share your thoughts by leaving a comment below: