LONDON Hermann Hauser, a partner at Amadeus Capital Partners Ltd. (Cambridge, England), is expected to recommend that the U.K. government help establish three technology centers costing £300 million (about $450 million) over the next five to ten years, according to a Financial Times report.
Hauser is said to be producing a report for Lord Mandelson, the Secretary of State for Business in the U.K. government, which will be delivered later this month. The report is expected to emphasize that government investment can produce long-term benefits although it sometimes fails to meet expectations in the short term.
Hauser is expected to call for the setting up of centers focused on technology areas in which the U.K. has a leading position such as plastic semiconductors, regenerative medicine involving the use of stem cells and low-carbon energy production. However, the U.K. electorate faces a general election in May and whichever party is elected will be looking to make cuts in government spending to help it reduce the debt taken on to bail out the banking sector in 2008 and 2009. The economic benefits of state-directed investment would be substantial in the long run, Hauser is expected to argue.
Hauser was instrumental in Amadeus' investment in Plastic Logic Ltd. (Cambridge, England) and helped make sure that the company put down manufacturing plant in Europe. The philosophy that local manufacturing helps to maintain and stimulate leading-edge research and design and thereby creates jobs and wealth creation would seem to mesh with the left-of-center government in the U.K.
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