Viscount Younger of Leckie: ...sector, not only to effect change but to contribute so much to its success. That is a point which the noble Lord, Lord Lyell, highlighted. We are also developing new industries. Earlier this year, Siemens announced a £310 million investment in offshore wind at Hull, creating more than 1,000 jobs. However, there is no use manufacturing if you cannot sell what you make. Earlier this year,...
Lord Hunt of Chesterton: ...know that the starting salary of an engineer is about half what they would get in law? Most art students start with higher salaries than engineering students. It is an extraordinary situation. When Siemens hires engineers in the UK, it pays them significantly less than it pays its engineers in Germany. I ask manufacturing bosses over here to pay their engineers more and then they will get...