BIS and DEFRA launch new Resource Security Plan in response to concerns about the rapid decline in naturally occurring resources which are used in everyday products such as mobile phones and other key electronic equipment.
The new plan details how the Government recognises these issues, provides a new framework for business action to address resource risks, and sets out high level actions to build on the developing partnership between Government and businesses to address resource concerns.
BIS have announced today that the headquarters of the new GIB will be located in Edinburgh, with the main transaction team being based in London. This arrangement will according to BIS, enable a greater commercial reach nationally than could be achieved from one location.
The next step for the GIB is the recruitment of a Chair and Senior Independent Director with the aim of being fully operational by Autumn, subject to state aid approval for the GIB. The GIB is expected to employ 50-70 full time equivalent staff in Edinburgh and London. Continue reading
Round 3 of the Regional Growth Fund (RGF) is now open – £1bn is available for this round and is being formally announced by the Deputy Prime Minister, Nick Clegg in Bristol today (23 February 2012). The funding is part of the Regional Growth Fund and takes the total fund to £2.4 billion. It will be available to businesses and public / private partnerships with ambitions to create new jobs and make a significant impact on their local economy.
The Deputy Prime Minister is also set to confirm that 48 of the successful firms from the first two rounds of the fund have completed their legal checks and have access to the Government fund which leverages private sector investment, with at least £5 put in for every £1 of public money according to BIS. Continue reading
BIS announced yesterday (31.1.2012) that they had received 32 applications to host the new Green Investment Bank. Applications had been invited by BIS set against a set of self-assessment criteria which would determine the bidders’ suitability to be an effective base for the new bank.
The Green Investment Bank is being established by Government to play a key role in the Government’s move towards a green economy, and is primarily aimed at encouraging private sector investment into green infrastructure including renewables and waste/resource managemenmt projects.