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news opinion


Are we waist deep in the mire, or climbing out of the hole and welcoming a bright, fresh spring?


Heaven knows. Actually, no-one knows, least of all the economists.


Last month we received the results of a survey from BDO saying things were really, really bad. And one from Lloyds Bank agreeing they were not good.


According to BDO, business confidence hit a 21-year low, and there was a real risk of a triple-dip recession. Lloyds, through its purchasing managers’ index, suggested a slowdown in business activity, with new orders falling.


Yet the CBI is more upbeat. It thinks we are not heading for a triple-dip and that the economy will expand slowly in the first quarter of 2013.


We’d like to think the CBI is right. After all, how can an economy that has created about 800,000 private-sector jobs since 2011 show no growth?


Economists are looking at the jobs boost and wondering why the UK’s productivity levels are not a great deal better. We are taking people on, but not necessarily producing more.


This is surely all down to confidence. And this is where the Government can lead the way.


In this month’s Budget,


the chancellor must boost infrastructure investment and must encourage companies, through tax breaks, to start spending again.


And with encouraging signs that growth in China, Japan and the United States will spur global demand this year, the time is right for George Osborne to get his chequebook out.


David Murray Publisher


www.businessmag.co.uk


Heathrow Airport has announced investment plans for 2014 to 2017, with a £3 billion expansion programme that will include the opening of a new Terminal 2 next year.


The plans also include the development of a new integrated baggage system and the construction of new taxiways and stands to allow the airport to


accommodate more of the most modern aircraft.


Ticket prices are expected to rise significantly to help fund the expansion – up from £19.33 per passenger today to an estimated £27.30 in 2018.


Since 2003 Heathrow says it has invested £11b including the construction of Terminal 5.


Cable backs OCVC's employment skills drive


Business secretary Vince Cable met furniture makers of the future as he visited Oxford & Cherwell Valley College last month. Cable toured the workshops to see how furniture is designed and made and also discussed how the college’s partnerships with universities, such as Oxford Brookes and Bucks New University, are increasing access to higher education.


He also met with college principal Sally Dicketts to find out how students are being made ready for employment. She explained how OCVC is developing a more a commercial approach to education through the setting up of learning companies, and by helping students to develop the enterprise-related skills and behaviours demanded by today’s employers.


Cable said: “Education and training are important for


personal development and employment prospects. The college is a good example of how a closer relationship between education and employment can address this need.


“We believe that further education should be seen as an equal alternative to higher, but OCVC takes this a step further, by breaking down any misconceptions that the two are mutually exclusive.”


Whilst at OCVC Cable also met staff and students from higher education courses in policing and health and social care, which are offered in partnership with Oxford Brookes University.


Sally Dicketts said: “We were delighted that Mr Cable could visit our Oxford campus and meet staff and students at the National School of Furniture. It was a real opportunity to show how further education providers can provide a bridge between education and employment, and


Heathrow invests £3 billion in expansion


It added that it had “historically suffered from out-dated facilities and decades of under-investment”.


Colin Matthews, chief executive of Heathrow, said: “Heathrow faces stiff competition from other European hubs and we must continue to improve the service we offer passengers and airlines.


“We have invested billions of pounds in new facilities such as Terminal 5 in recent years and passengers say they have noticed the difference. Our plan for a further £3b of private-sector investment will further improve the airport for passengers.”


Meanwhile, Gatwick Airport has also revealed its plan for the next 10 years, including plans to invest £1b. Chief executive Stewart Wingate has also called for freedom from regulation.


He said: “We continue to make the case that there is no need to continue economic regulation of Gatwick beyond 2014. We do not believe that the exciting vision of a world-class Gatwick can be delivered under economic regulation.”


how the principles of enterprise can help students to develop the skills and behaviours required by today’s employers. Mr Cable was interested to hear how we are working with businesses and other like-minded colleges, through the Gazelle Group, to lead a more commercial and entrepreneurial approach to education and training.


“We were also able to show how partnerships with universities are enabling more people to progress into higher education while remaining within the FE college environment. For many this can offer a more cost-effective and convenient route to achieving a higher level qualification.”


In the April issue of The Business Magazine


• International Markets • Commercial Property • Pensions • Team Building • Technology: BYOD


Details: 0118-9766411 sales@elcot.co.uk


THE BUSINESS MAGAZINE – THAMES VALLEY – MARCH 2013


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