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GREEN JOBS KEY TO RECOVERY
April 30, 2010 12:03 PM
In the third and final round of the leaders' debates, Nick Clegg detailed how the Liberal Democrats would drive the recovery by creating sustainable economic growth.
Criticising Labour for having built up the largest structural deficit in the developed world and for having been to reliant on high risk 'casino' banking, Clegg also said that creating 'green jobs' and giving growth in the regions equal emphasis to the performance of the City of London is essential for a sure-footed recovery.
'Green jobs' refers to the creation of green enterprises such as recycling companies, manufacture of wind turbines or construction of environmentally friendly transport infrastructure.
Manchester's Metrolink extensions are one such 'green' investment project.
Having been cancelled at the last election by the Labour council, the tracks of the Metrolink extension are now finally being laid in Chorlton, despite Manchester being told in 2008 that there was simply 'no plan B'; no further central government investment into transport infrastructure if the congestion charge did not go ahead. After a long struggle by residents and campaign groups, Metrolink will now run to south Manchester.
Nick Clegg was the first party leader to publicly commend proposals for Metrolink extensions as an excellent green project, creating jobs and helping reduce congestion as well as contributing to Manchester's air quality improvement.
John Leech said:
"There are a number of transport infrastructure projects around the North of England that are just waiting for the funding go-ahead.
"The Liberal Democrats would get these projects going to help secure jobs and stimulate the economic recovery. We have plans for a 'UK Infrastructure Bank' which would develop funding for public infrastructure projects such as energy supply, transport and communications, and remove these from the arena of short-term political interference.
"We need action now to deliver increased infrastructure for the UK and a speedy transition to a low carbon economy. The demand for funding to improve and develop infrastructure will be enormous over the next few years."
Notes to editors
The UK has been placed 33rd in the world for infrastructure according to the Global Competitiveness Report produced by the World Economic Forum.
UK infrastructure funding requirement is estimated to be in the region of £500 bn in the next decade yet the increased cost of private capital in the aftermath of the credit crunch means Labour's PFI model looks extremely unattractive.
The Liberal Democrats' proposed UK Infrastructure Bank would provide capital, guarantees and equity for the creation of industries that contribute to the development of green infrastructure projects.
The UK Infrastructure Bank would be an independent body but will receive start up funding from the Government.
The CBI has found that 70% of senior business figures consider the UK's infrastructure to be poor and that 85% consider this to have an impact on investment decisions.
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