EARLIER this month Prime Minister Gordon Brown and Conservative shadow foreign secretary William Hague outlined their visions for Huddersfield in the Examiner. Now Lib Dem leader Nick Clegg spells out his view of the town’s economic future

OUR economy is in trouble.

Millions are unemployed and millions more have had to take pay cuts or reduce their hours to stay in work.

But it’s a wider problem than just the immediate one.

For too long our economy has been centred in the City of London, focused on making bets on the financial markets.

That has to change.

Instead of gambling on things we should be making things again.

Huddersfield was once a pioneer of the industrial revolution, built around the production of wool and textiles. Today that’s all changed and, while the university is a big employer and many people are doing well, the hum of the factories is gone and the mills lie quiet.

Towns like Huddersfield are not the hubs on innovation and industry they should be any more.

If there is one lesson we must learn from the financial crisis it is this: we need a different approach built on British businesses, sustainable economics and regional diversity so there are opportunities everywhere, for everyone.

Manufacturing remains a hugely important aspect of the British economy – accounting for one in five jobs – but it has been hit hard by Labour’s recession. We can reinvigorate manufacturing and provide the beginning of a new, greener economic growth if we invest now in the infrastructure needed for the future.

The Hillhouse community of Huddersfield is already leading the way by becoming one of the first low-carbon communities, having secured funding to pay for 35 traditional stone built Yorkshire terraces to receive low-carbon makeovers.

Securing the funding is a tribute to the Hillhouse community, but a much more ambitious approach is needed.

That’s why the Liberal Democrats have proposed a £3.4bn economic stimulus and job creation package.

Our package will bring a nationwide programme to fund insulation of our schools and provide investment to ports so the marine renewables energy industry can grow.

In total our green stimulus plan will create 100,000 jobs across the country.

Economic success is not just about encouraging new businesses.

We need to support the businesses and jobs that we already have. Many businesses have found it difficult to obtain access to finance since the credit crunch erupted.

The Liberal Democrats are the only party that have unequivocally committed to developing a much more diverse and sustainable financial infrastructure.

Firstly, we will get the banks lending again – particularly the state owned banks that should be working for the benefit of Britain.

I was horrified when I learnt that the Kraft takeover of Cadbury – which is already putting people out of work – was being funded by RBS, a bank owned by the taxpayers.

That isn’t why we bailed out the banks and it should have been stopped.

Secondly we will provide small businesses with access to equity through the introduction of local enterprise funds and regional stock exchanges.

These will provide access to equity finance for smaller businesses as they commercialise their ideas and grow.

Government also needs to make it easier for businesses to go about their day-to-day activities.

The burden of red tape is especially heavy on small businesses. Only 9% of small businesses believe that the regulatory regime is fair and proportionate.

We will reduce red tape and manage the introduction of new regulations by ending the gold-plating of European directives, adopting a ‘one in, one out’ policy, using sunset clauses and introducing independent checks on the costs of regulations.

The key to economic success for Huddersfield will be in pursuing all of its strengths and harnessing the talents of the entire community, supported by a government that cares about every region of the country, not just the City of London.

Together, we can create a diverse, sustainable economy for everyone.