support from government
“We need to generate a steady stream of foreign investment,
by making Britain the best place in the world to design, test
and manufacture low carbon products. Our competitive
framework and open market will help with that. The resources
of UK Trade and Investment (UKTI) were strengthened with £10
million from the 2009 Budget to promote the UK and address
any risk of disinvestment.”
There must therefore be a note of scepticism FMC-Tech, an Irish company, is
around the Minister’s claims for the economic opening an office within the
benefits attributable to inward investment to- Energy Innovation Centre
day. “We need to generate a steady stream of (opposite) creating up to 10 new
foreign investment, by making Britain the best marketing, sales and engineering
place in the world to design, test and manu- positions to service the UK energy
facture low carbon products. market. Its system, which took
“Our competitive framework and open mar- four years to develop uses line
ket will help with that, but we need to indulge mounted sensors and associated
in a little self-promotion. software to make the power
“The resources of UK Trade and Investment distribution networks more
(UKTI) were strengthened with £10 million intelligent and has the capacity
from the 2009 Budget to promote the UK and to reduce outage duration by
address any risk of disinvestment.” more than 35%.”
Collaboration with a raft of quangos appears
central to the government’s strategy. As Lord
skills, for example. We must look at areas Mandelson noted: “We will continue to work
where skills gaps will arise and address them with the Technology Strategy Board, the En-
with the right policy framework from Higher ergy Technologies Institute and the Carbon
Education through to job training. Trust to identify and assist innovative compa-
“And we’re working to embed skills require- nies and ideas within the low carbon sector.
ments right across government procurement These bodies provide a loud and clear message
processes, using our buying influence to en- to businesses that this government recognises
sure we are choosing companies that invest and will support innovative companies.”
in staff training and skills.”
Style over substance?
Impact of inward investment
The Business Secretary cannot be faulted on
Before the EU clamped down on national gov- his ambition to stimulate entire segments of
ernments writing large cheques to attract for- the business community through direct in-
eign direct investment, the UK was able to volvement in the low-carbon economy.
provide the kind of regional aid packages which It is probably more than rhetoric fuelled by
attracted a steady flow of new investors. the forthcoming General Election. “The key
The employment opportunities created in message I want to get across is that we are
the process were trumpeted by the govern- fully committed to the transition to low car-
ments of the day. The passage of time, how- bon. As the recession ends our businesses must
ever, suggests that the number of new jobs be ready.
created was much lower than the one an- “That means skilled workers, innovative prod-
nounced when the investment was secured. ucts and the necessary investment to make these
There is evidence, too, that the long-term ben- a commercial proposition. Times are difficult
efit to regional economies where the funds today but the low carbon economy presents
were directed was nugatory in many instances. significant opportunities for tomorrow.” §
The Business Secretary cannot be faulted on his ambition to stimulate the business community through
involvement in the low-carbon economy. It is probably more than political posturing ahead of the Election.
The Informed Executive
23
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