Business blog: SEEDA on notice
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Vince
Cable made a good fist of his first major speech as Business
Secretary.
He did not spell out any policy specifics but summed up the
overall context - deep-seated problems, a fragile recovery, a
massive budget deficit, a dysfunctional banking system and an
economy that is seriously unbalanced both in its sectoral mix and
in its regions.
All sound stuff. Fewer financial handouts to companies, but more
investment in skills and research. And he reiterated his warning to
quangoes that more face the chop. Mr Cable has already put SEEDA on
notice that it is not really necessary and there was nothing in his
speech that should ease SEEDA fears that it could join those
already consigned to the knackers' yard.
Mr Cable is a qualified dancer and will have to learn fast how
to do it on eggshells as he develops his business and skills
strategy in the months ahead. Not everyone will love him for it.
But the broad thrust is encouraging.
Wednesday, June 09 2010
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