Cicero Yearly Archives

Britain

This tag is associated with 2 posts

Willetts science plan a Pipe Dream?


Willetss at Policy ExchangeUniversities and Science Minister, David Willetts announced on Friday an ambition to make Britain the best place in the world to do science.

In a speech at Policy Exchange, Universities and Science Minister David Willetts argued that Britain’s  our universities, science facilities and researchers – are the best single hope for making our way in the high-tech world of the future, creating jobs and opportunities and boosting high-tech economic growth.

He said that  “If properly nurtured they can ensure that Britain will be up there as a leading location for research in the physical and life sciences. Britain can be the preferred location for companies’ R&D.” Also adding that “We can have world-class industries using cutting-edge technologies. We can have a prosperous future with a role in the world.”

However like most of the ambitious projects the government are keen to launch the downside to this is  there will absolutely no extra Government financial support for its abitious plans, he said: “There will be no additional Government funding. This time we will be looking to private finance and perhaps sponsorship from some of the businesses that are keen to recruit more British graduates”.

Let’s hope that there is private financial investment and sponsorship – but in these financial times when  companies like Pfizer closed with 2,400 jobs in Kent last year, Unilever laying over a thousand staff in December and BAE lost 3000 jobs in early 2011 – I  wonder who will invest and where he optimistically thinks money will actually be found to ensure Universities are helped with his ambitious plans?

Video courtesy of Policy Exchange website

HM Treasury announce Banking Reforms


The Government is today publishing its response to the report by the Independent Commission on Banking (ICB), which sets out plans to fundamentally reform the structure of banking in the UK. This response agrees with the ICB’s recommendations and outlines how the Government will legislate to create a stable banking sector that supports lending to businesses and families, and removes the implicit taxpayer guarantee in the event of a bank failure.

The Government will implement the ICB’s advice in stages with the full package of reforms completed by 2019. All necessary legislation will therefore be put in place by the end of this Parliament. The Government will publish a White Paper in spring 2012 setting out further detail on how the recommendations will be implemented; in advance of that, the Government is open to views on how to implement these plans.

The Chancellor of the Exchequer, the Rt Hon George Osborne, said:

“The Independent Commission on Banking was set up last year to look at what I have called the ‘British Dilemma’: how Britain can be home to one of the world’s leading financial centres without exposing British taxpayers to the massive costs of those banks failing.

The Government is preparing the most far reaching reforms of British banking in our modern history – our objective is to make sure what happened in Britain never happens again.”

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