Latest Public Sector News

24.01.14

Shale gas ‘fresh driver’ for UK growth

Fracking could boost the UK’s economy by helping to re-shore businesses to the country, the prime minister has stated.

Speaking at the World Economic Forum at Davos, Cameron said that shale gas could be a “fresh driver of growth”. It could help to supply cheaper, more secure energy and support greater competitiveness for businesses.

Environmental campaigners have warned that fracking could cause water contamination and environmental damage.

Cameron said: “There is no doubt that when it comes to re-shoring in the US, one of the most important factors has been the development of shale gas, which is flooring US energy prices, with billions of dollars of energy cost-savings predicted over the next decade.

“The key challenge for politicians and business leaders in Europe is how we make a success of globalisation.

“For years the West has been written off. People say that we are facing some sort of inevitable decline. They say we can't make anything anymore.

“Whether it's the shift from manufacturing to services or the transfer from manual jobs to machines, the end point is the same dystopian vision – the East wins while the West loses; and the workers lose while the machines win. I don't believe it has to be this way.

“Of course, we shouldn't be starry-eyed about globalisation – it presents huge challenges as our economies and societies try to adapt – but neither should we take this pessimistic view."

But Labour warned that shale gas may not lower energy prices, and that relying heavily on the volatile price of gas maybe risky.

Shadow business secretary Chuka Umunna said: “After so many government schemes have failed to deliver for business, manufacturers will want to see what this one offers in practice.

“Labour would create a proper British Investment Bank supported by a network of regional banks, a skills system which delivers for businesses of all sizes and would cut business rates to help growing firms."

Tell us what you think – have your say below, or email us directly at opinion@publicsectorexecutive.com

Comments

There are no comments. Why not be the first?

Add your comment

 

public sector executive tv

more videos >

last word

The importance of openness after Grenfell

The importance of openness after Grenfell

Following the recent Grenfell Tower tragedy, Lord Porter, chairman of the LGA, argues that if the public are going to have faith in the safety testing process then everything must be out in the open more > more last word articles >

public sector focus

View all News

comment

Peter Kyle MP: It’s time to say thank you this Public Service Day

21/06/2019Peter Kyle MP: It’s time to say thank you this Public Service Day

Taking time to say thank you is one of the hidden pillars of a society. Bei... more >
How community-led initiatives can help save the housing shortage

19/06/2019How community-led initiatives can help save the housing shortage

Tom Chance, director at the National Community Land Trust Network, argues t... more >

interviews

Artificial intelligence: the devil is in the data

17/12/2018Artificial intelligence: the devil is in the data

It’s no secret that the public sector and its service providers need ... more >

the raven's daily blog

New rules to change the future of Social Value

05/06/2019New rules to change the future of Social Value

The government has announced the introduction of new rules to change the future of social value and make the way housing developers stump up the money for infrastructure both ... more >
read more blog posts from 'the raven' >

editor's comment

25/10/2017Take a moment to celebrate

Devolution, restructuring and widespread service reform: from a journalist’s perspective, it’s never been a more exciting time to report on the public sector. That’s why I could not be more thrilled to be taking over the reins at PSE at this key juncture. There could not be a feature that more perfectly encapsulates this feeling of imminent change than the article James Palmer, mayor of Cambridgeshire and Peterborough, has penned for us on p28. In it, he highlights... read more >