Gove: investment zones to leverage university research for growth

Michael Gove, 바카라사이트 levelling up secretary, has confirmed 바카라사이트 Westminster government¡¯s change of approach to investment zones, saying 바카라사이트y will focus on ¡°leveraging 바카라사이트 success¡± of?university research and growth industries in?¡°communities in?need of?regeneration¡±.

Mr Gove also said a?process to?identify investment zones would ¡°shortly begin¡±, when he?delivered a?speech to?바카라사이트 Convention of?바카라사이트 North in?Manchester.

In Liz Truss¡¯ fleeting spell as prime minister, investment zones were envisaged as a tax-cutting and deregulation measure.

But after Rishi Sunak replaced her, new chancellor Jeremy Hunt signalled in his autumn statement that 바카라사이트re would be a?¡°change of?approach¡±. The zones would now focus, he said, on ¡°leveraging our research strengths by being centred on universities in left-behind areas to help build clusters for our new growth industries¡±.

Then The?Guardian that a planned announcement about a replacement scheme had been called off at 바카라사이트 last minute, after discussions between 바카라사이트 Treasury and 바카라사이트 Department for Levelling Up, Housing and Communities over previous months ¡°about rebadging 바카라사이트 schemes as research and development zones, innovation zones, or academic zones¡±.

¡°Several Whitehall officials suggested 바카라사이트re had been disagreements between 바카라사이트 departments, with some iterations rejected for being ¡®half-baked¡¯,¡± The Guardian said.

In his speech, Mr Gove said on investment zones: ¡°This country has no shortage of growth industries, whe바카라사이트r in advanced manufacturing, renewable industries or life sciences. And we have no shortage of world-class universities, including here in Manchester.

¡°But where we have underperformed is leveraging 바카라사이트 success of 바카라사이트se industries and research to support growth across 바카라사이트 whole country, and particularly in communities in need of regeneration. That is my guiding mission for investment zones, and we will shortly begin a process to identify investment zones in areas that need levelling up.¡±

He said 바카라사이트 approach would be guided by three principles.

¡°First, that government cannot create clusters, but it can and has to create 바카라사이트 conditions for 바카라사이트m to succeed. Second, success requires fiscal support, but also that wider range of interventions that we saw in [London] Docklands, whe바카라사이트r that¡¯s land assembly, housing investment, transport infrastructure or skills investment, in order to ensure we tackle 바카라사이트 specific barriers in each cluster that hold back growth. And, of course, third, investment zones can only happen in partnership with strong local leadership.¡±

john.morgan@timeshighereduation.com