Summary
FUNDING - The multi-million pound European Regional Development Fund has delivered huge bonuses to the Tees Valley in strategic and individual projects. But the pounds 125m JEREMIE fund, which will come on stream in 2010, could be the last hoorah when it comes to big hand outs. Karl Gardiner from North East Finance, which will be administering the funds and finding private equity partners to co- invest on projects, said: "We recognise that JEREMIE is probably the last significant ERDF investment that the region is likely to receive. It has to be used in as sustainable way as possible." CARBON CUTTING - A monumental piece of European legislation, which heaved its way through Parliament in its closing stages session in December, will fundamentally affect the way business operates in the future. But while the rules on CO2 emissions set down increasingly tough targets, it also created a huge opportunity to create a green collar economy on Teesside by setting a target for countries to generate 20% of their energy from renewable sources by 2020. With its offshore and steelmaking expertise, Teesside is particularly well placed to take advantage of the new rules by developing expertise in windfarms at sea..
EMPLOYMENT - Attempts to end Britain's opt-out to the working time directive saw several MEPs at logger heads with their own governments in the Council of Ministers. It blocked reform, thereby ensuring the status quo survived. Employers' organisations on Teesside had been bitterly opposed to ending the opt out, arguing that both workers and bosses benefited from flexibility on overtime, especially during a recession.See the full content of this document
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Side Help or Hindrance - Europe's Impact On
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