We may still have some way to go before industry in general is safely out of the economic mire. Nevertheless, there were certainly a few morsels of welcome news offered up last month when Chancellor George Osbourne announced in the Budget that there would be an extra 1p cut in corporation tax aimed at helping businesses increase investment. Also, news of a reduction in regulations on firms was music to the ears of companies looking to up their game in terms of investment and staff recruitment. And there was a considerable flurry of additional welcome news besides; one of the highlights being the announcement that there would be more funding available for apprenticeships and the doubling in number of planned university technical colleges (UTCs) from 12 to at least 24. This move will aim to provide technical training for the ‘lost generation’ of 16-24 year olds who are experiencing the highest unemployment since records began in 1992 as it approaches the sensitive 1 million mark. Joblessness among this age group reached 965,000 in the fourth quarter, or 20.5 per cent. A third of the total official unemployed had been out of work for more than 12 months.