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Vince Cable backs help for struggling regions Vince Cable backs help for struggling regions
(5 months later)
The business secretary, Vince Cable, has highlighted the serious disparities between different parts of the country in economic performance and job prospects.The business secretary, Vince Cable, has highlighted the serious disparities between different parts of the country in economic performance and job prospects.
He was speaking at a conference designed to boost local enterprise partnerships, the government's chosen vehicle for regional business growth.He was speaking at a conference designed to boost local enterprise partnerships, the government's chosen vehicle for regional business growth.
Cable said: "There are worryingly high disparities between economic performance and employment prospects in different parts of the UK, and those areas that become highly dependent on the public sector face particularly difficult challenges."Cable said: "There are worryingly high disparities between economic performance and employment prospects in different parts of the UK, and those areas that become highly dependent on the public sector face particularly difficult challenges."
Cable's aides stressed that he was not proposing any short-term change in policy, or implicitly criticising the legacy of the Thatcher administration. It may, however, reflect concern about the impact that the scale of the cutbacks in public sector jobs may have had on some regional economies.Cable's aides stressed that he was not proposing any short-term change in policy, or implicitly criticising the legacy of the Thatcher administration. It may, however, reflect concern about the impact that the scale of the cutbacks in public sector jobs may have had on some regional economies.
Cable said: "Sustainable private sector growth is not going to occur spontaneously but will need support through infrastructure and training.Cable said: "Sustainable private sector growth is not going to occur spontaneously but will need support through infrastructure and training.
"I do not believe in managed decline for regions that are underperforming. Even after the major crisis and contraction in London's banking sector, the south-east maintains a more buoyant economy, reflected in property and retail markets for example, than most other parts of the country.""I do not believe in managed decline for regions that are underperforming. Even after the major crisis and contraction in London's banking sector, the south-east maintains a more buoyant economy, reflected in property and retail markets for example, than most other parts of the country."
He said rebalancing was not just about switching to exports and manufacturing, but was geographical as well. He will insist English regions need a strong voice to attract investment and employment, suggesting a parallel at some level with the devolutions driving growth in London, Scotland and Wales.He said rebalancing was not just about switching to exports and manufacturing, but was geographical as well. He will insist English regions need a strong voice to attract investment and employment, suggesting a parallel at some level with the devolutions driving growth in London, Scotland and Wales.
He also said the local enterprise partnerships were more business-led and more responsive to local conditions than the regional development agencies set up by Lord Heseltine.He also said the local enterprise partnerships were more business-led and more responsive to local conditions than the regional development agencies set up by Lord Heseltine.
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