Regional Growth Fund

Baroness Wall of New Barnet Excerpts

Tuesday 11th October 2011 Lords Chamber

[Baroness Wilcox]

The ECGD covers all of that, of course. Today I am delighted to say that the Government are funding manufacturing research in a drive for future growth: a £170 million package to sharpen the UK’s competitive edge has already been given out; a high-value manufacturing technology and innovations centre is receiving £140 million over a six-year period; and the TSB and the Office for Low Emission Vehicles will be running a £15 million competition for investment into the research and development of low-carbon vehicles. I am delighted to be able to announce that today.

[Baroness Wall of New Barnet]

Can the noble Baroness give us any more details on the Government’s intention to support the BAE Systems workers? She will know that it was announced earlier this year that 3,000 workers were to be made redundant and that, in both Yorkshire and north-west England, very highly skilled people are being displaced as a result. The Government promised support. Please can you update us on that?

[Baroness Wilcox]

We have of course created a new enterprise zone in that area especially for this. These are terrible times, and the idea of seeing any jobs go at the moment, certainly in the private sector, goes against everything we wish for growth. That enterprise zone is there and we will put every help we can into that area. The Government’s economic policy objective is to achieve strong, sustainable and balanced growth that is more evenly shared across the country and among industries. We will therefore look very carefully at any other incidence of this happening.