Peter Mandelson Recasts Department of Trade and Industry as High-Tech Promoter
What happened
Peter Mandelson, in his first major speech as a cabinet minister, recast the Department of Trade and Industry as the promoter of high technology research and entrepreneurism. He pledged government support for high-tech and electronics businesses to achieve a knowledge-driven economy. The speech occurred while Peter Mandelson was speaking with Tony Blair.
Why it matters
Mandelson advocated for a 'third industrial revolution' driven by IT, communications, and electronics. This policy positioned private enterprise as the necessary mechanism for generating new sources of employment in the global economy.
Who's involved
- Peter MandelsonRecast the Department of Trade and Industry to promote high technology.
- Tony BlairServed as Prime Minister during the period of the speech.
- Department of Trade and IndustryWas recast by Peter Mandelson to focus on high technology research.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- FujitsuSpeculative
The high-tech focus of the Department of Trade and Industry could provide a positive policy signal for Fujitsu's sector, potentially affecting investment.
- ScotlandSpeculative
The government's emphasis on high-tech may overlook existing high-tech job losses in Scotland, which could impact regional employment.
Keep exploring
The entities involved
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Peter Mandelson
British politician and life peer (born 1953)
Nothing else this week.
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Tony Blair
Prime Minister of the United Kingdom from 1997 to 2007
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Department of Trade and Industry
1970–2007 department of the United Kingdom government