PM zones in on the jobs front

The investment – part of a £100m fund that will be spent on infrastructure improvements at 13 regeneration locations across Britain – will make a significant difference if the money is spent promptly.

If new businesses can start to flourish in the near future, there is no reason why this investment cannot be recouped by the Exchequer, provided the firms concerned can make the most of the opportunities that are being offered.

The one quibble is that it has taken three years to reach this point. David Cameron first spoke about the importance of enterprise zones during a speech that he delivered in Shipley at the end of May 2010.

However, the Prime Minister – and those around him – should have realised back then that businesses would not relocate to these designated areas unless improvements had been carried out to the transport and IT infrastructure.

Even so, these enterprise zones will only flourish if Mr Cameron can now inject some much-needed confidence into the economy.

The signs are more encouraging – Britain does appear to be moving in the right direction, albeit very slowly. But the uncertainty persists – corporate giants seem particularly adept at minimising their tax liabilities, Thames Water being the latest such example, while small businesses, the lifeblood of the economy, are pursued for every last penny at a time when the banks continue to be inflexible over lending arrangements.

And then there is the perennial issue of Europe. Though the Tory mood music has become increasingly Eurosceptic in response to the electoral threat posed by Ukip, Mr Cameron made a staunch defence of Britain’s membership of the European Union, saying it was “in our national interest”.

The problem is that the PM’s remarks will prompt another round of navel-gazing by his fractious party that diverts attention away from the need to create new jobs – whether it be within the Government’s enterprise zones or elsewhere.