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Clegg: £5bn local fund ends years of Govt bossiness

Nick Clegg has hailed government plans for a £5billion regional pot as opening a new era for England's regions.

"This is something that turns a page of decades, generations of over-centralised bossiness from Whitehall," the Deputy Prime Minister told Good Morning Britain.

"I'm really excited because you just get a lot more bang for your buck."

Employers say graduate jobs up by 11.6%

Research based on responses from 100 leading graduate employers, including firms such as PwC, Jaguar Land Rover and Unilever reveals an 11.6% increase in job openings this year.

Study says graduate employers jobs up 11.6% Credit: PA

Overall recruitment has returned to the same level as 2007 - before the start of the recession.

The biggest number of vacancies is in accounting and professional services (4,442 vacancies available), the public sector (3,415 job openings), investment banking (2,148 openings) and engineering and industrial (1,650 vacancies).

In total, 11 out of 13 industries have seen a year-one-year rise in vacancies for graduates.

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Govt's £5bn regional pot 'falls short of Labour plans'

The shadow business secretary has dismissed an extra £5 billion spending on regional growth as falling "far short" of Labour plans.

Mr Umanna said that Labour would devolve £30 bn in spending to the regions Credit: PA

Labour MP Chuka Umunna said that the Conservative-led coalition had failed to deliver on promises to rebalance England's economy and ensure growth was not concentrated in the capital.

"Instead we've seen things go into reverse as regions and local areas have been held back," he said.

He said that a Labour Government would allow regional authorities to take over £30 billion of spending across the country.

Cameron: regional pot can create thousands of jobs

The prime minister David Cameron has said that an extra £5 billion in investment for England's regions over the next five years will help to kick-start growth across theUK outside of the capital.

The 'growth deals' will offer investment for local authorities and businesses Credit: PA

"For too long our economy has been too London-focused and too centralised. Growth deals will help change all that," he said.

He said that the scheme could turn regional towns and cities in economic "powerhouses" and create thousands of new jobs. "

Deputy Prime Minister Nick Clegg, who chairs the local growth cabinet committee, also hailed the announcement as marking the end of a culture of "Whitehall knows best" and helping to end an over-reliance on the banks and the City of London.

Government plans £5bn extra regional spending

England's regions are set to benefit from an extra £5 billion in investment under Government plans to re-balance the country's economy and create thousands of new jobs outside the capital.

David Cameron has said that the cash could create thousands of jobs Credit: PA

The cash will be allocated to local authorities and businesses through a series of local "growth deals" for investment in projects including building new homes, improving transport links and opening up new training opportunities.

Officials said that the funding, which would be released over five years from 2015, would lead to work on over 150 roads, 150 housing developments and 20 stations as well as create new jobs and training opportunities outside the capital.

Top employers receive 39 applications per graduate job

Research suggests that top employers received around 39 applications for every graduate job this year amid a rise in vacancies.

Top employers receive 39 applications per graduate job. Credit: PA

A new study reveals that the number of graduate level openings available has now returned to pre-recession levels, with big increases in industries such as the media, engineering and consultancy.

Overall, a third of graduate employers have stepped up recruitment in the last six months, taking on more university graduates than they expected, according to an annual survey conducted by High Fliers Research.

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Employers concern over 'skills shortage'

A woman looking into the window of a job centre. Credit: Rui Vieira/PA Wire

The availability of candidates for job vacancies is falling, highlighting concerns about skills shortages, according to a new study.

Research by the Recruitment and Employment Confederation and KPMG said even though unemployment remained over two million, employers were finding it difficult to fill certain jobs.

Pay rates for permanent and temporary staff had increased in recent months, the report also stated.

Hundreds of jobs to go at Imperial Tobacco factory

Imperial Tobacco is to end cigarette manufacturing in the UK after announcing plans to close its factory in Nottingham with the loss of up to 540 jobs.

Imperial Tobacco factory in Nottingham Credit: PA

The Bristol-based company, which employs 1,700 people in the UK, said the factory has the capacity to make 36 billion cigarettes a year but will only produce 17 billion in 2014.

It blamed declining industry volumes in Europe, which have been impacted by increasing regulation and taxation and the growth in illicit trade.

The company is also closing a production site in Nantes, France, where 320 people are employed.

Osborne declares 'full employment' fight commitment

Chancellor George Osborne has declared his commitment to fight for "full employment" in Britain.

Speaking to workers at Tilbury Port in Essex, he said his "ambition" was for Britain to achieve the highest employment rate of any of the developed nations of the G7.

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