Creating a "new economic dynamism"
The Prime Minister has set out the government's plans to back British business and create "a new economic dynamism" to build confidence and lead to growth and jobs
Speaking to an audience of business leaders at the CBI conference, the PM set out the Government’s strategy as pro-enterprise, pro-competition and pro-innovation that backs the big businesses of tomorrow, not just the big businesses of today.
The PM announced the creation of a £200 million network of technology innovation centres, linking university researchers with business.
Mr Cameron also announced a National Infrastructure Plan that sets out in detail the infrastructure Britain needs and how we will unlock £200 billion worth of public and private sector investment to deliver it.
To build that new dynamism in our economy, to create the growth, jobs and opportunities Britain needs, we’ve got to back the big businesses of tomorrow, not just the big businesses of today. That means opening up access to finance, creating an attractive environment for venture capital funding, getting banks lending to small businesses again - and in the days and months ahead we will be setting out our plans in all these areas.
In his speech, Mr Cameron directly addressed the question, “where is the growth going to come from - where are the jobs going to come from?”
He said:
Over the course of this Parliament - and the next - I believe we can transform our fortunes. We’re in a world of unprecedented economic change, with millions of new consumers and countless innovations, where companies are starting with less investment than ever before, yet still becoming global giants within a matter of years.
This is an incredible opportunity for Britain, for new start-ups to flourish, for innovations to drive growth and create jobs.
He also announced £60m of Government funding to establish world-class offshore wind manufacturing at ports.
Read more: PM announces £60m to establish offshore wind manufacturing
His speech follows the Spending Review which set out the Government’s measures to tackle the record deficit, balance the books and reign in unaffordable public spending but at the same time announced an additional £2.3 billion for capital spending to help Britain’s businesses grow.
Read more: Spending Review
Read more: Promoting economic growth and new jobs