Leicestershire Chamber of Commerce

CHAMBER NEWS

Attendees at the 2003 Annual Luncheon last December managed to break all previous records when it came to the charity raffle prize draw. The prize of a holiday to Majorca, courtesy of Millington Travel, attracted a lot of interest and a grand total of over £5000 was raised. Each year the proceeds from the raffle go to a charity chosen by the Chamber’s President and Stephen Woolfe, the new President for 2004/05, chose to donate every single penny to Rainbows,

Jo Plant, Appeals Manager at Rainbows, commented: “We would like to say a big thank you to Leicestershire Chamber of Commerce and all its members who supported Rainbows so generously at the Annual Luncheon. Your valued donation of £5011.91 will be used to fund vital nursing care for a local child who sadly uses Rainbows. Our statutory funding currently stands at less than 6%, with a continued increase in referrals support from our business community is very important to the hospice and we cannot thank you enough.”

If your business would like to support Rainbows further then please contact jo.plant@rainbows.co.uk or call 01509 638000. For more information visit www.rainbows.co.uk.

From: David Kern, Economic Adviser to the BCC

BCC Quarterly Economic Forecast:The next issue of the BCC’s Quarterly Economic Forecast will be issued in February. The previous full Forecast was issued November. The current Briefing reviews monthly developments, and updates the various forecasts where appropriate. The most important development since November is that our UK GDP growth forecast for 2004 has been upgraded from 2.5% to 2.8%.

• The economic recovery remains on course and 2004 is starting on a positive note.
• UK Q3 growth was revised to 0.8%. Our GDP forecast is raised to 2.1% in 2003 and 2.8% in 2004; it remains 2.4% in 2005, stronger than in the Euro area.
• The UK Pre-Budget Report confirmed the sharp worsening in UK public finances. Public Sector Net Borrowing (PSNB) is forecast at £37bn in 2003-04. Tax rises of 10bn-15bn will be needed in the next 2-3 years, to avoid breaking the Golden Rule.
• The new UK inflation target, based on the CPI (Consumer Price Index, previously known as HICP), was set as expected at 2%. UK Base rate will be raised to around 4.50% by end-2004. Gilt yields will edge up further, but less than in H2 2003.
• The huge US external deficit will trigger further $ falls in the next 6-9 months, to $1.82-$1.86 per £, $1.30-$1.35 per €, and Y103-Y99 per $, before the $ stabilise
• Sterling will strengthen against the dollar and weaken against the euro in the next few months. After mid-2004, the pound is likely to ease against most currencies.
• A decision on UK Euro entry will be postponed until after the General Election.
• UK prospects for 2004 remain benign, but medium-term risks persist: strikes, higher taxes & interest rates, pensions shortfalls, low skills, low productivity, housing bubble, weak manufacturing, large external deficit.
• The global upturn is mainly led by stronger US growth. But China, India, and other Asian economies are playing an increasingly important global role.
• The global economy is set to strengthen in the next 6-9 months. But medium-term prospects are uncertain, imbalances persist, and growth is likely to slow in 2005.
• Terrorism threats, excessive debt, huge budget & external deficits, trade tensions, and currency instability, remain adverse factors likely to dampen recovery.
• US annualised growth in Q3 was confirmed at 8.2% for GDP, and was 9.4% for productivity. November industrial production & retail sales rose 0.9%. November non-farm payrolls rose 57,000, below expectations; unemployment fell to 5.9%.
• My 2004 US GDP forecast is raised to 4.2%, with 2005 growth slowing to 3.7%.
• Euro area prospects will improve in 2004, but growth will be limited by the strong euro, unduly tight fiscal & monetary policies, and (crucially) inadequate reforms.
• Japan’s Q3 2003 growth was revised down, from 2.2% annualised to 1.4%. GDP is forecast to grow 2.5% in 2003, 2.0% in 2004, and 1.5% in 2005. Bad debts, deflation, and adverse demographic trends will limit Japan’s long-term growth.
• Asia’s economic status will strengthen further, driven mainly by China and India.
• Official interest rates are past their lows and will rise gradually during 2004.
• Longer-term bond yields will also rise, but more modestly than in H2 2003.
• The Euro area will bear the main adjustment pains resulting from the $’s fall.
• US dollar falls, if they remain orderly, can help ease global imbalances; but the impact on the US deficit will be limited, as long US growth remains stronger than in the Euro area and Japan. A collapse in the dollar will have damaging effects.

UK background: UK GDP quarterly growth in Q3 2003, previously estimated at 0.7%, was upgraded to 0.8%; this follows 0.6% growth in Q2; Year-on-year growth in Q3 was upgraded to 2.1%, after 2.1% growth in Q2 and 1.9% in Q1. In view of the new figures, I am raising my UK GDP growth forecasts: from 2.0% to 2.1% for 2003 as a whole, and from 2.6% to 2.8% for 2004. But my 2005 forecast stays at 2.4%. UK growth figures remain stronger than in the Euro area, but the imbalances in the economy have widened. In Q3, household-spending growth is revised to 0.9%; investment fell 0.5%, while exports recorded an annual fall of 5%. The Pre-Budget Report confirmed the sharp worsening in UK public finances. Public Sector Net Borrowing (PSNB) is forecast at £37bn in 2003-04, £10bn above the Budget estimate. Tax rises of £10bn-£15bn will be needed in the next 2-3 years, to avoid breaking the Golden Rule. As expected, UK Base rate remained unchanged at 3.75% in December, but gradual increases are expected in 2004, to around 4.50% by end-2004. The UK labour market remains robust, with employment near record high levels. But the economic upturn remains over-dependent on an upsurge in public sector spending, recruitment, and pay. Over the medium tem, the UK economy continues to face serious challenges: higher taxes, worsening strikes, pensions shortfalls, housing bubble, low skills, low productivity, weak manufacturing, large external deficit. But the outlook for 2004 remains benign, with stronger growth, low inflation, tolerable (albeit slightly higher) interest rates, and high employment.

Base rate and sterling: At its December meeting, the MPC left as expected its key interest rate unchanged, at 3.75%. Eight members supported the “no change” decision, and one voted for an increase. In the minutes, the MPC stated: “If the economy continued to evolve in line with the Committee’s central projection, a further increase in the repo rate would be warranted at some point. But the news was not yet sufficient to justify another increase.” The strength of the housing market, and of consumer spending & borrowing, are still areas of concern; but it is too early to judge the full effects of last month’s interest rate increase. On balance, our forecast signals gradual increases in official interest rates over the next year, with the key MPC rate rising to around 4.50% by end-2004. Gilt yields will edge up further, but by less than the sharp increase seen in the second half of 2003.

The new UK inflation target, based on the CPI (Consumer Price Index, previously known as HICP), was announced by the Chancellor in his 10 December Pre-Budget Report, and was set as expected at 2%. The changeover will have the effect of replacing an inflation measure that is just on target (RPIX was 2.5% in November) after being above-target for more than a year, with one that is well below-target (HICP was 1.3% in November), and has been below the 2% target for the past few years. The exclusion of housing costs from CPI, which is the most important factor accounting for the difference between the two indices, is clearly questionable in the UK. The switch to the new CPI target will make it difficult to explain any tightening in monetary policy in the near future.

Sterling is set to strengthen against the dollar and weaken against the euro in the next few months, reaching levels of around £0.72-£0.73 per €, and $1.82-$1.86 per £. After mid-2004, the pound is likely to ease against most currencies. An early referendum on UK Euro entry is extremely unlikely. A decision will almost certainly be postponed until after the next General Election at the earliest.

The Global Economy: The global recovery remains on course and 2004 is starting on a positive note, with stock market levels near to their 2003 highs. The upturn is mainly led by stronger US growth. But China, India, and other Asian economies are playing an increasingly important global role. The global economy is set to strengthen in the next 6-9 months. But medium-term prospects are uncertain, huge imbalances persist, and growth is likely to slow in 2005. Terrorism threats, excessive debt, huge budget & external deficits, trade tensions, and currency instability, remain adverse factors likely to dampen recovery. US annualised growth in Q3 was confirmed at 8.2% for GDP, and was 9.4% for productivity. US industrial production and retail sales both rose 0.9% in November. US non-farm payrolls rose 57,000 in November, well below expectations, but unemployment fell to 5.9%. My 2004 forecast for US GDP is raised to 4.2%, with 2005 growth expected to slow to 3.7%. Euro area prospects will improve in 2004, but growth will be limited by the strong euro, unduly tight fiscal & monetary policies, and (crucially) inadequate reforms. Japan’s Q3 2003 growth was revised down, from 2.2% annualised to 1.4%. Japan’s GDP is forecast to grow 2.5% in 2003, 2% in 2004, and 1.5% in 2005. Bad debts, deflation, and adverse demographic trends will limit Japan’s long-term growth. Asia’s economic status will strengthen further, driven mainly by China and India.

Official interest rates are past their lows and will rise gradually during 2004. Longer-term bond yields will also rise, but less than in H2 2003. The huge US external deficit will trigger further falls in the US $ in the next 6-9 months, to $1.30-$1.35 per €, $1.82-$1.86 per £, and Y103-Y99 per $, before the US $ stabilises. The Euro area will bear the main adjustment pains resulting from the $’s fall, as Japan intervenes heavily to limit the yen’s rise, and China keeps the renminbi’s fixed parity. US $ falls, if they remain orderly, can help ease global imbalances; but the impact on the US deficit will be limited, as long US growth remains stronger than in the Euro area and Japan. A collapse in the $ will have damaging effects.

UK GDP: Quarterly GDP growth in Q3 2003 was revised upwards once again, from 0.7% to 0.8%, after 0.6% growth in Q2; but the imbalances in the economy have widened. Year-on-year GDP growth in Q3 was upgraded from 2.0% to 2.1%, after 2.1% in Q2 and 1.9% in Q1. The higher GDP estimates for Q3 point to a stronger UK economic performance than previously expected. My forecasts for UK GDP growth are therefore being raised: from 2.0% to 2.1% for 2003 as a whole, and from 2.6% to 2.8% for 2004. But my 2005 forecast remains unchanged, at 2.4%. GDP growth in 2003 as a whole (2.1%) will still be below trend, estimated at 2.50%-2.75% per annum, after below-trend growth in both 2001 (2.1%), and 2002 (1.7%). While the growth forecast for 2004 (2.8%), and 2005 (2.4%), is expected to just match trend. UK growth is set to remain higher than in the Euro area (0.5% in 2003, 1.8% in 2004, and 1.7% in 2005). The December 2003 Pre-Budget Report (PBR) GDP growth forecast (2.1% for 2003, and a range of 3%-3.5% for both 2004 and 2005), could easily be met in 2003, but is still too high for 2004 and 2005. Moreover, the PBR predicts a significant rebalancing in the economy, with a sharp upsurge in investment and exports. But on present trends, this seems unlikely, and any rebalancing in the economy will be modest.

Household consumption, after declining in Q1 2003, has risen strongly in both Q2 and Q3. Quarterly growth was revised upwards, to 0.9% in Q3, and to 0.8% in Q2; annual growth was 2.5% in Q3, after 2.1% in Q2. The buoyant housing market and the high level of personal debt remain a source of concern for the MPC, and will probably trigger further increases in interest rates during 2004. Household consumption growth, while accelerating in 2004, is set to slow overall in a longer term perspective, from an average of almost 4% per annum in the five years to 2002, to 2.4% in 2003, 3.1% in 2004, and 2.6% in 2003; this will be due to a cooling housing market, and greater caution fostered by the higher personal debt burden.

Investment, fell 0.5% in Q3, and annual growth was 1.2%. Within total investment, private sector business investment was particularly weak. Private sector manufacturing investment was down 7.8% on the quarter in Q3, and down 15.5% on the year, to its lowest level for 20 years. While rising gradually from now onwards, I expect investment to grow at a disappointing pace: by 1.9% in 2003, 2.2% in 2004, and 2.2% in 2005, after rising by 1.8% in 2002. The current account deficit, after worsening sharply in Q2 and Q3 2003, is forecast to remain large, moving in a range of 2%-2.5% of nominal GDP.

UK main sectors: Service sector quarterly growth was revised upwards to 0.9% in Q3 2003, after 0.2% in Q2 and 0.5% in Q1; year-on-year services growth was 2.4% in Q3, after 2.5% in Q2 and 2.7% in Q1. In spite of the Q3 upsurge, service sector figures over the past 18 months have been well below the sharp annual rises recorded in 2000 and early in 2001. Looking ahead, the service sector, while remaining stronger than manufacturing, is forecast to expand at a moderate pace, with annual average growth of 2.5% in 2003, 2.9% in 2004, and 2.5% in 2005.

Construction output, after rising 7.5% in 2002 as a whole, fell in Q1 2003; but Q2 quarterly growth accelerated sharply to 4.2%, while Q3 saw robust quarterly growth of 2.0%. Looking ahead, construction growth is likely to expand strongly in the next 2-3 years, in line with the upsurge in Government spending, with annual average growth forecast at 5.8% in 2003, 7.8% in 2004, and 7.0% in 2005.

Manufacturing output, after falling 0.5% in August, and stagnating in September, rose 1% in October, much better than expected and the largest monthly increase since July 2002. In the three months August-October 2003, manufacturing was 0.1% higher than in the previous three months, and 0.4% higher than in the same period in 2002. While the October figure are a welcome improvement, the sector still faces serious challenges in key areas such as skills and productivity. To put the recent figures in perspective, after falling 1.3% in 2001 and 3.6% in 2002, manufacturing output recorded zero growth in the period January-October 2003, compared with the same period in 2002. Output is still 4% below its 2000 level. Engineering (+2.5%) recorded the best year-on-year figure in August-October, while metals (-2.8%) recorded the worst year-on-year figure.

Manufacturing employment is set to decline further. But, after a nasty and prolonged recession, manufacturing output is now showing modest signs of recovery, and the upturn is likely to strengthen gradually over the next 12-18 months. However, even if we make positive assumptions about short-term prospects, manufacturing output is forecast to register minimal growth of 0.2% in 2003 as a whole, and then grow by 2.0% in 2004 and 2.2% in 2005. Both output and profits should benefit from a weaker pound against the euro, but the recovery will be fragile. The table and graph on the next page summarise my main forecasts for the UK economy:

UK GDP - Main Components - Annual Averages % Change Year on Year

UK GDP - Main Components - Annual Averages - % Change Year on Year

UK labour market: Claimant count unemployment was 917,800 in November (the lowest since July 1975 and below the consensus forecast), down 7,900 from the revised October figure, and down 20,380 over the year. On the wider ILO measure, unemployment was 1,470,000 in August-October, down 33,000 on the previous three months but down 71,000 on the same period a year ago. The jobless rate was 3.0% (November) on the claimant count, and 5.0% (August-October) on the Labour Force survey (LFS) measure. The employment level was 28,169,000 in August-October, up 37,000 on the previous three months, and up 228,000 over the year. The working age employment rate was 74.6% in August-October, unchanged from a year earlier. Manufacturing employment was 3,474,000 in August-October, 120,000 lower than a year earlier and the lowest level since 1984. The jobless rate (LFS measure) is lowest in the South West (3.2%), the South East (3.8%), and Eastern region (4.0%). Regional jobless rates were highest in the North East (6.9%), London (6.7%), Northern Ireland (5.9%), and the West Midlands (5.9%).

Average earnings growth was 3.6% in August-October, the same as in July-September, and in line with market expectations. Private sector earnings growth rose slightly from 3.1% to 3.2% in August-October. Public sector earnings growth slowed from 5.6% to 5.4%, and the large gap over the rise in private sector earnings narrowed modestly. Looking ahead, unemployment will remain low, but may still increase slightly in the next 6-9 months, due to earlier below-trend GDP growth. Overall, the labour market is set to remain resilient. The upsurge in public spending, and heavy public sector recruitment, will sustain strong public sector wage claims and could trigger labour militancy. I expect earnings growth to accelerate slightly during 2004, towards 4%-4.5% per annum.

Inflation: The new UK inflation target, based on the CPI (Consumer Price Index, previously known as HICP), was announced by the Chancellor in his 10 December Pre-Budget Report, and was set as expected at 2%. The year-on-year rise in the CPI eased from 1.4% in October to 1.3% in November, below market expectations. The year-on-year rise in the all-items retail price index (RPI) was 2.5% in November, down from 2.6% in October. The ‘underlying’ retail price measure (RPIX), which the Government targeted until recently and excludes mortgage interest, was also 2.5% in November, down from 2.7% in October. The November inflation figures were below market expectations. The gap between RPIX and HICP narrowed slightly further in November, to 1.2%. The main downward price pressures in November stemmed from clothing & footwear. Upside pressures stemmed from transport,

Goods price inflation (based on the RPI) stayed at 0.6% in November, and was in positive territory for the past ten months. Services price inflation (based on the RPI) slowed further, from 3.4% in October to 3.0% in November. The gap between goods and services RPI inflation narrowed further, to 2.4%. High Street prices remained in negative territory, with margins under pressure. In the three months September-November, High Street prices were 0.8% lower than a year earlier. Looking at UK inflation prospects, the RPIX measure is likely to ease slightly over the next few months, as the housing market cools and oil prices ease. But the CPI measure (previously known as HICP, which excludes housing inflation) should edge up, as the gap between CPI and RPIX narrows further.

Economic Adviser to the BCC
Tel: 020 8904 6293 E-mail: david.kern@btinternet.com

LEGISLATIVE NEWS

Current figures show that economic growth accelerated by 0.8% between July and September 2003, the quickest rate for a year. Easy access to credit and low interest rates, buoyant household spending and record employment also aided businesses last year. Research shows that despite this, firms face barriers to growth this year including pensions, the expected slowdown in consumer spending, continued global political uncertainty and an "exodus" of support services overseas. On a more positive note, even with rising interest rates, the low inflation and low-cost borrowing environment means conditions for SMEs will remain relatively stable in historic terms.

For more information, visit www.chamberonline.co.uk

PStarting this year, the DTI will introduce domestic employment regulations for which it has responsibility on two dates each year: 6th April (the start of the tax year) and 1st October (when the minimum wage is revised) The synchronising of the commencement dates for regulations is intended to ensure that changes to employment policy are made in a coordinated way and to provide employers and workplace managers with greater clarity and awareness about when changes will be made.

For more information, visit www.dti.gov.uk

Health & Safety Click inform us that the HSE has published a free leaflet to help employers reduce the risks of slips and trips in the workplace.

Over a third of all major injuries reported each year are caused as a result of a slip or trip (the single most common cause of injuries at work). The HSE estimates that this costs employers over £512m a year in lost production and other costs.
The Workplace (Health, Safety and Welfare) Regulations 1992 require floors to be suitable, in good condition and free from obstructions.
The leaflet, 'Preventing Trips and Slips at Work', can be downloaded (PDF format) from:
www.hse.gov.uk/pubns/indg225.pdf
NEW STATISTICS REVEAL UK ECONOMIC GROWTH SPURT
New statistics have shown that the UK economy has expanded at its fastest rate for a year during the third quarter last year. The latest result was 0.2% higher than in the three months to June last year and was the fastest period of growth since the third quarter of 2002 when growth also reached 0.8%. Annual growth moved up to 2.1%, from 2.0% before. The improved figures were driven by the service sector, which expanded 0.9% over the period. ONS reported that businesses and financial services firms also did well. Manufacturing however managed just 0.1% growth, down from the 0.9% reported in the quarter before.

For more information, visit www.nationalstatistics.gov.uk

At present, new dads are so far allowed just two weeks paid leave, whereas mothers get six months paid and six months unpaid time off. This could all change as in future parents could be given the option of who gets the unpaid part of the leave, allowing fathers a greater roll in bringing up their children. Trade and Industry Secretary believes the idea is the result of pressure from many people arguing that the extra six months should be made available to the father. In favour of fathers being able to play a more active role in the children’s lives, Patricia Hewitt wants to look at how to take these proposals can be take forward and other actions that can be taken in relation to paternity leave extension.

For more information, visit www.dti.gov.uk

New laws are proposed to give traffic wardens the power to fine motorists for driving offences, an activity currently only police officers can do. As part of the proposals contained in the new Traffic Management Bill, wardens who are employed by local councils would be allowed to issue fines for blocking junctions and other offences. Drivers would receive fines of up to £100 but, as a concession to motorists, penalty points would not accompany them on licences. The Department of Transport has also signalled that there would also be a greater use of cameras in places such as roads where drivers regularly make illegal u-turns. The bill also extended powers to fine utility companies that cause delays by missing deadlines to finish road works.

For more information, visit www.dft.gov.uk

The RMDF will provide support for local and regional projects that will contribute to healthy markets for recycled materials nationally. Under the RMDF, £10 million is available over three years for qualifying projects in England only. A large proportion of the fund will focus on projects that create markets from the biodegradable elements of the waste stream but applications can also include other materials streams under WRAP’s (Waste and Resources Action Programme) remit (glass, paper, wood, plastics) and those outside of WRAP’S remit, for example, tyres, WEEE, ELV.

Applications will be assessed against a number of key criteria including contribution to the tonnage target of 373,000 tonnes by 2006 and the commercial viability of the initiatives once funding has ceased. The overall environmental impact of the project will also be evaluated. Further details including eligibility, evaluation criteria, timetable, application forms and guidance notes for the initial competition will be available from 15th December on WRAP website at www.wrap.org.uk

According to a poll of nearly 1,000 employees, 82% admitted they had feigned a cough or cold - or worse - so that they could skip work. A quarter said they had done this only once in the last twelve months, but 7% claimed to have fooled the boss more than five times. Over a third had feigned illness twice, 17% had done so three times and 14% had skipped work on four occasions. Employers pay the price for this, especially small businesses that have to stretch and use all their resources to compensate for absenteeism. The problem costs businesses thousands of pounds a year and if you are a small business these are costs that you could really do without. It is suggested that employers can deter phoney sick leavers by instructing them to call in if they feel ill. Bosses should also construct a contingency plan for when key staff are absent.

For more information, visit www.chamberonline.co.uk

CHAMBER EVENTS

In conjunction with Freethcartwright LLP
Date: 28th January
Time: 07.30 – 09.00
Venue: Leicester Tigers Rugby Ground
Cost: £23.50 Members, £33.50 Standard

The Chamber’s Employment Law Seminars are very popular, helping to keep businesses up-to-date on important legislation. This event will look at the email policies and procedures that employers should put into place, future legislation including updates and tip-offs on forthcoming changes and guaranteed ways to avoid Employment Tribunal claims.

Date: 5th February
Time: 12 noon– 2.30pm
Venue: Midlands Conference Centre, Leicester City Football Club
Cost: £23.50 One price only

Leicestershire Chamber, in conjunction with De Montfort University, presents the first in a series of Executive Briefings designed to bring together the business community to enjoy networking opportunities, a delicious buffet lunch and the chance to hear high-profile guest speakers from the business world. For the February event the speaker will be Dennis Turner, Chief Economist of HSBC Bank plc whose current role involves advising lending bankers on economic trends at both regional and national level.

In conjunction with the Inland Revenue
Date: 24th February
Time: 8am-9.30am
Venue: Ramada Jarvis Hotel, Leicester
Cost: £23.50 One price only

Nearly 1.5 million small businesses in the UK can get up to £825 tax free if they decide to file their employer end- of- year tax returns on-line. The Inland Revenue wants to encourage businesses to opt for on-line filing now rather than later and this seminar will look at what on-line filing and payment mean to businesses, how the systems work and what support services are available to help companies transfer across.

Date: 26th February
Time: 7.30am-10am
Venue: Ramada Jarvis Hotel, Granby Street, Leicester
Cost: £23.50 One price only

The United Kingdom’s possible adoption of the Euro is an issue that many businesses feel strongly about, whether in favour or against. Leicestershire Chamber of Commerce is offering local companies the chance to update themselves on the Euro position in 2004, looking at progress so far and how this might impact on their businesses. At this informative seminar officials from Her Majesty’s Treasury will present on the economics of the five tests assessment before outlining ongoing work in preparation for a single currency. There will be particular emphasis on the issues that will affect business with the presentations followed by an informal question and answer session.

Leicestershire Chamber networking events are sponsored by Blue Arrow.

For more details or to book onto this event you can book online by logging on to our website www.chamberofcommerce.co.uk or contact Kam Atker on 0116 2046614 or email at atker.k@chamberofcommerce.co.uk

OTHER NEWS

BURA - the British Urban Regeneration Association - is assisting EMDA in organising a major regional conference to help in the development of the next phase of the East Midlands Urban Action Plan, which forms a key element of the RDA's Regional Economic Strategy.

The conference, which is in Lincoln on 16/17 March, has very significant implications for all parts of the East Midlands region.

If you need any further information please get in touch with BURA's Events Manager, Victoria Dakin (0207 539 4038 e-mail victoria@bura.org.uk

Leicester Revealed, the long-term strategy to improve the image and perceptions of Leicester, saw its launch in late 2003. Led by Leicester Shire Promotions, it brings together an ever-increasing number of partners from the public and private sectors to deliver an innovative place marketing campaign which can assist the economic and social regeneration plans for the next ten years.

One of the ways in which the Leicester Revealed vision will be delivered is through a series of themed years which highlight the existing and emerging strengths of the city and county. Taste Leicester! is the first in the series and will be followed by Create Leicester! in 2005 and a further five themed years to take Leicestershire on a journey to 2010.

Taste Leicester! launches on the 14th January 2004 with a highlights brochure in the Leicester Mercury. The programme will signpost people to a diverse range of experiences that challenge them to ‘taste’ what Leicester already has to offer and give a ‘flavour’ of the vibrancy and creativity of the city. The programme includes events and activities which celebrate heritage, science, education, food, fashion, thought and community as well as festivals and existing arts programmes.

As well as raising awareness of some of the existing strengths of the city, the year will also be punctuated by some major new events for Leicester which establish a rhythm for the years to come.

The Taste Leicester! Expo (1-4 July 04) is one of those key events and will be a centrepiece for the year. The Expo will provide a platform for some of the best local food and drink producers and restaurants with opportunities to see, try and buy. It’s also a chance to promote and celebrate the broader ‘produce’ and ‘achievement’ of Leicestershire. A number of themed zones in the city will provide the stage for cultural, educational and community activities to be showcased.

Taste Leicester! supports the belief that all sectors - public, business, voluntary, education and community - play a vital role in the perception of the city and county and its potential for transformation and regeneration. Taste Leicester! has a very direct relationship with the Leicester Revealed campaign, making visible the hidden wealth of assets which the county has to offer its citizens and tourists.

A provocative advertising campaign featuring slogans such as ‘Boring, Boring…Leicester!’ and ‘Leicester! Nothing to Shout about’ kicked off the Leicester Revealed programme in November and ensured that the media spotlight was shining well and truly in the city. The campaign has already attracted international media attention, including items in The Observer, Daily Telegraph, The Times, Metro, Radio 4’s You and Yours, ITV’s Des and Mel show, Radio 2’s Jeremy Vine, Punt and Dennis and Drivetime shows, South African and Canadian state radio, and Calcutta’s Daily Telegraph

Paul Brookes, Director of Leicester Revealed explained “The campaign is part of a long-term drive to make Leicester one of the UK’s premier cities by 2010. As the months unfold, let’s see the businesses of Leicestershire and the people who live and work here stand up and give a positive shout of pride in what we have to offer. Over the next ten years there are going to be some very significant developments. Leicester is on the up and it’s now time to stop doing the place down and to work together to make sure it achieves its potential”.

Remember to pick up your copy of the Taste Leicester! highlights brochure in the Leicester Mercury on 14 January. For further information regarding Taste Leicester! or the Leicester Revealed programme and how you can get involved, visit www.goleicestershire.com

As a regional employer you are invited to the launch of an exciting new initiative at Leicester Business School Graduate Centre, De Montfort University, on Wednesday 14 January 2004 from 5.30pm.

As an alternative to the traditional theory-based dissertation at the final stage of the MBA programme, Leicester Business School now offers participants the option of an In-company Project. The school is seeking partner companies and organisations who could offer a suitable project and benefit from a fresh approach to a management challenge.

The scheme works in a similar way to standard placement schemes with the employer providing the project, a mentor and a base within the host organisation between June and September. The business school provides candidates for the project, academic supervision and associated PR for the host organisation (if desired). But there are two big differences between this and your average scheme. The end result for the employer should be a solution to a real and current challenge, potentially with long-term benefits, and the calibre of the participants - you have to have operated at managerial level before embarking on an MBA, so with the text book theory comes practical experience. These aren’t your average placement students.

Join us for a glass of wine on Wednesday 14 January, from 5.30pm, to find out more. Visit www.dmu.ac.uk/mba or contact Jan Worth on (0116) 250 6332 / jsworth@dmu.ac.uk for further details or to confirm your attendance at the launch evening.

INTERNATIONAL NEWS

If you are thinking of trading with Hong Kong or China based companies try either the www.hkenterprise.com or the www.tdctrade.com websites for lists of companies wishing to trade with UK companies or for trade fairs happening in the region as well as a business matching service and general information on trading with the region.