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Business Secretary announces boost for motor industry

News of a £1 billion investment in the motor industry has been welcomed by companies across our region today.

Britain's motor business supports more than 700,000 jobs, with Vauxhall in Luton alone employing nearly two thousand people.

With the East home to manufacturing plants, high tech engineering companies and 3 Formula One teams, it's hoped the money will help create long-term economic security. Serena Sandhu reports.

Motor industry to get £1bn innovation fund

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Vince Cable at Ford's research centre at Basildon this morning Credit: ITV

£1 billion is to be spent on developing a new generation of car engines aimed at improving fuel efficiency and reducing carbon emissions.

Business Secretary Vince Cable is at Ford's research centre at Basildon in Essex today to announce joint government and industry funding for the work. It's expected the project could secure 30,000 UK jobs linked to producing engines.

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Vince Cable visit

The Business Secretary Vince Cable will continue his visit to Norfolk today. He's due to visit the Lotus car factory near Norwich where he's expected to announce a deal to provide the Malaysian owned company with 10 million pounds from the Regional Growth Fund.

He'll also be taking a helicopter tour of the East of England to see the region's nuclear, wind and gas production facilities.

Vince Cable visits Cambridge computer lab

The Business Secretary Vince Cable has been in Cambridge this morning as part of the city's Business Week.

During his tour he visited the University Computer Laboratory, which is one of the oldest in the world and is celebrating its 75th anniversary. It produced the first computer to do real work, the first computer science course and the first computer science textbook.

Business Secretary in Cambridge

The Business Secretary is due to visit Cambridge Credit: PA wire

The Business Secretary Vince Cable is expected to visit Cambridge today, Monday 18th March, as part of Cambridge Business Week.

Mr Cable is due to make a speech and visit local businesses, including successful technology, electronics and software companies.

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Vince Cable visits Cambridge

Business Secretary Vince Cable Credit: PA

The Business Secretary Vince Cable has been in Cambridge to meet business leaders. During the visit Mr Cable has been celebrating Cambridge's success in industry, technology and manufacturing. He's announced a new partnership with UK banks designed to help small businesses.

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