Margot hears case for Regional Development Agencies

Richard Hutchins, Deputy Chief Executive of Advantage West Midlands (AWM),came to see Margot following the news that the Conservative Party are likely to reduce significantly the role of Regional Development Agencies (RDAs).

AWM play an important part in the regeneration of parts of the Black Country as well as the provision of business support direct to companies. The provision of venture capital is especially valuable as the private VC market has been limited of late.

Margot agreed that there was a role for a regional body to contribute to regeneration in the area; but she remained of the view that the best help Government can be to business lies in more direct support as follows:

• reduced taxation, particularly on employment
• less regulation, at the moment research and development is disappearing overseas in quite a few sectors because the red tape surrounding research in our hospitals and universities has become far too burdensome
• a decent education system that produces children who are literate and numerate at the very least
• incentives and financial support for apprenticeships and training
• increasing tax incentives for venture capital e.g by making the Enterprise Investment Scheme more attractive