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Absolutely. I agree. If my hon. Friend will bear with me, I will come to that in a few moments.
The EEEG’s strategy is to use the region’s enthusiasm for wind energy to encourage other opportunities and energy-saving activities, including the decommissioning of North sea platforms and the use of empty gas wells for carbon capture and storage. Decommissioning alone could be a huge industry for the east of England. We could become an area of leading expertise. We are perfectly placed in terms of proximity, expertise and history to do so.
It would boost the market and longer-term North sea oil and gas production if we moved forward with tax relief on security fund payments for the industry and reconsidered the currently high levels of financial security required for those platforms. At the moment, those and other issues are restricting the amount of investment and production, and the Treasury is arguably losing out as well.
Along with councils in Great Yarmouth and Lowestoft, 1st East is specifically directing a marketing campaign at companies involved in the first two rounds for wind turbines. The campaign is already generating visits to east coast ports, where companies are seeing that the area is superbly equipped for servicing the industry and cannot be beaten on proximity. The new deep-water port facilities in the outer harbour of Great Yarmouth, which can handle the largest offshore wind vessels, also make us more accessible, and the existing multi-energy supply chain is particularly attractive to companies entering the area.
We have also been boosted by the Government’s announcement of the A11 upgrade, which our area desperately needed. Without it, the region’s economic expansion would have been hampered. All those things have shown the industry that if it is willing to invest in Norfolk and Suffolk, we are willing too. Our Government have put their cards on the table by investing in the A11. It is a fantastic announcement that could boost the economy across a range of industries. However, securing investment and developing infrastructure alone will not be enough. We must similarly expand the skills base. Our colleges and world-class universities are providing skills for a new generation of apprentices and engineering graduates.
Does the hon. Gentleman welcome the bid prepared by City college Norwich and the university of East Anglia for a university technical college in Norfolk? It would help develop energy skills and advanced manufacturing and engineering in the sector. Does he also agree that for the reasons he has given, Norfolk is an obvious location for such an institution?
I support everything that my hon. Friend says. We are perfectly placed. At the moment, we face a skills gap, as not enough people are coming through schools and into universities with the right graduate skills to serve the energy, engineering and high-tech industries in our region, let alone the rest of the country. The work going on now is perfectly placed to encourage more students into those fields. The industry is working with colleges to develop courses to ensure that the skills base is built up properly.