Treasury chief Danny Alexander last night told Greater Manchester’s leading business figures that the Government was committed to providing the region with the tools needed to fuel economic growth.
Speaking at the Greater Manchester Chamber of Commerce’s annual dinner, Mr Alexander announced a £2million investment for research into the development of Gallium Nitride at NXP Semiconductors in Stockport.
Gallium Nitride is a breakthrough raw material which can replace silicon in electronic devices, such as car systems, mobile phones and communications infrastructure.
Mr Alexander said: “Through the new Regional Growth Fund we are supporting projects and programmes that unlock private sector investment to create economic growth and jobs.
“And this Regional Growth Funding will support a private sector investment of over £7.5 million, safeguarding nearly 500 existing jobs, creating 100 new positions in Stockport and firmly establishing the UK – and this region – as a global research hub for NXP.”
He thanked the Chamber of Commerce for their support for High Speed 2 and said the Government fully intended to see through other major infrastructure projects such as super face broadband, energy developments and upgrades to the country’s road network.
“If we want a successful economy in the 21st century, then we need an infrastructure fit for the 21st century,” he added.
Admitting that cuts to local government had been difficult; Mr Alexander praised the work of the region’s council leaders and said their work would be used to deliver better services across the country.
He said: “Here in Greater Manchester you have shown that by pooling resources across the public sector, joining up delivery through community budgets you can deliver better public services with less money.
“Better results for the most troubled families – who attract the attention of many public sector bodies, without really being helped by any of them.”
Mr Alexander also reaffirmed the coalition Government commitment to the agreement struck after the 2010 General Election and said that neither party had any intentions of going their separate way.
He said: “As one of the architects of the coalition, let me reassure you that this Government is totally focussed on fixing the economy, and will remain so every day until the election in 2015.
“Whatever you read, there is absolutely no prospect of the coalition breaking up early, or losing that focus.”
Comedian Jimmy Carr also performed at the dinner, which was attended by more than 650 of the region’s leading business figures.
Taking to the stage after Mr Alexander had departed, Carr joked after his recent bad publicity over his tax affairs.
He said: “I really think I should be telling you all about best practice when it comes to tax.”
Picture courtesy of the Liberal Democrats, with thanks.
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