Cable seeks construction strategic partnership
11 September 2012
Business Secretary Vince Cable has set out plans to increase collaboration between the government and the private sector to deliver a long-term strategy for growth.
The government is to develop a series of “collaborative but challenging strategies” across a broad range of sectors, including the construction industry.“This will include building strategic partnerships with industries and targeting support for them to help realise their substantial growth prospects,” the business department said.
“Government makes decisions every day that affect the British economy, but has for too long done this in an ad hoc way. Government needs to be more like business, by making strategic plans and sticking to them,” said Cable.
“I am setting out a clear and ambitious vision, a commitment far beyond the usual political timescale that will continue to bear fruit decades later.”
He added the move would give businesses certainty to make their own plans.
Cable also revealed plans to establish “a new institution to help companies invest in capital and drive their expansion”, commonly being referred to as a government business bank.
The move came as ratings agency Moody’s published a report on the UK banking system which said the sector’s outlook remains negative, suggesting lending from banks will continue to be slow over the months ahead.
