I will remember Massachusetts

“To be honest, the first things that come to mind when I think of Massachusetts are Sam Adams ale, the Kennedys, the Red Sox, the original Tea Party….and the Bee Gees (“feel I’m going back to Massachusetts”, sung at notes too painful for me to reach).  But having spent two days this week in Boston, on a programme organised for me by my Consulate-General colleagues, I’ve had the opportunity to refocus and think about what makes the Commonwealth economy tick, and trade and investment with the UK help a lot.  Cue trade stat: UK FDI provides 40,100 jobs in the Commonwealth (more than from any other foreign investor), and the UK is Massachusetts’s leading export destination.  

One of the key objectives for my visit was to explain what we’re doing to put in place sustainable and balanced economic growth in the UK, through reducing the budget deficit, increasing trade and exports, and attracting more inward investment, all underpinned by a growth plan that aims to make the UK more competitive through cuts in corporate tax, lighter regulation, and investment in skills and infrastructure.  The other objective was to encourage free trade and liberalisation as a key piece of the jigsaw.   And finally my goal was to highlight that because the UK and US economies are so closely linked, through trade and investment, that we have a common interest in each other’s economies being prosperous and open.  

The visit by the Liverpool Chamber of Commerce provided the hook for my own trip, and they were kind enough to allow me to join their meetings with Boston Mayor Thomas Menino (see photo) and the President and CEO of the Boston Chamber of Commerce, Paul Guzzi.  The Liverpool Chamber was in Boston to look for more ways of encouraging even more economic collaboration between Boston and Liverpool, following on from Governor Patrick’s visit to the UK organised by the Consulate in March this year. 

But I also got to meet separately other key Boston-based decision makers, opinion formers and business leaders, including meetings with the economic development Secretary Greg Bialecki, the senior staff of Senator Scott Brown, and Robert Lawrence, Professor of International Trade and Investment at the Harvard Kennedy School.  

The key take-away I brought back to DC with me was a positive reaction to what the UK is doing, and how the Commonwealth is taking a similar approach, particularly on investing in skills.  And there was strong welcome for the UK as a key trade and investment partner – crucial tools in our mutual economic recovery box.”