Support for Industry debate NOW ON

Discussion in 'Current Affairs, News and Analysis' started by BoomShackerLacker, Jun 16, 2010.

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  1. Vince Cable on his feet on Parliament channel...

    Critical debate for business re-investment - we might get some understanding about Tory's Investment plans for arresting recession
     
  2. With any luck, the support will turn out to be rather more for our manufacturing industry and rather less for the financial services industry. Big bucks for tax-take which then has to be spent on benefits for the massed unemployed, or smaller bucks for companies which don't have the option of outsourcing or moving overseas and have to keep locals in employment? Seems like a no-brainer, to me.
     
  3. Debate hung on the impact of reduced investment (e.g. RDAs) harming economic recovery... despite having to go back to work

    RDAs are £2.2Bn - so ripe for quick win - but sure another mechanism will pop up

    Osborne sensibly wanting all party cooperation - Bonque of Ingerlund getting powers back

    Cable is impressive at the Despatch Box - but that is another matter... Tories are sensitised to the possibility of their cuts triggering a double dip (99 with flake?).

    Note £40 million aid to Chinese has been cut... bet you didn't know we sent 'em that much
     
  4. The mood of the House today was pro industry I sensed, in a way we've not heard for decades:

    Cable: It is worth putting that in context, however. My hon. Friend the Member for Burnley (Gordon Birtwistle) made this point from a local context a few moments ago. The share of manufacturing in the British economy shrank from just over 20% in 1997 to just under 12% in 2009. Of course, that is a historical trend, but I remember in the 1980s when people were concerned about deindustrialisation. It is worth noting that the rate of decline in manufacturing over the past decade was three times as fast as it was in the 1980s. Manufacturing employment during the period of the Labour Government, when this imbalance grew, fell by 1.7 million—that is the population of Leeds, Sheffield and Glasgow combined. That demonstrates the decline in manufacturing. Furthermore, the number of manufacturing companies fell by 12% over that period. That was the imbalance created when the right hon. Member for Wolverhampton South East and his colleagues were in government.
     
  5. Cable:
    Lest we fall into the idea of believing that all RDAs made a remarkable contribution to the British economy, it is worth reflecting on some of the comments made by the Public Accounts Committee and then the National Audit Office. What we learned from that analysis is that the RDAs absorbed something like £10.6 billion in their lifetime. They did create some employment, that is for sure—at £60,000 per job. That was the cost—much more than twice the average wage, and at a time when there was a labour shortage in the economy and people were coming in from overseas. I repeat that £60,000 was being paid through the RDAs into creating employment. I do not deny that many of their activities were useful, but equally many were not. At Prime Minister’s Questions, the Prime Minister detailed some of the more absurd excesses, and I could have added a few more—the £50,000 party for the South West of England RDA in Center Parcs, champagne receptions in Cannes and many others. Some serious work was done, but it was very costly, raising very serious questions of cost-effectiveness. We now want to create a structure that reflects the real interest of enterprise and local councils.
     
  6. FE colleges are getting a 50 mil wedge pronto...

    Apprenticeships getting big push

    Local enterprise partnerships instead of RDAs

    Local strategies, artisan skills, practical skills are the order of Tory thinking... Cable seems to be waiting for local leadership to bring him case by case for investment

    Sound grasp does Cable have... helped by a woeful lost sheep appearance of the opposition, despite it being Opposition Day
     
  7. Sounds exactly what we've needed for years. When that twat Willets started on about cuts to education and how the sector was 'a drain on the taxpayer', I asked myself what was wrong with ensuring that it was an investment by the taxpayer instead of just taking the easy route of wielding the axe.