Following recent government announcements, it seems that the future is looking bright for the North West. Prime Minister, David Cameron and Chancellor, George Osborne have outlined plans to boost the economy of the region in a bid to keep up with the rest of the UK. As employment reaches an all-time peak, North-Westerners can be reassured that this positive performance is set to be maintained and flourish even further.
Consisting of six points, this ‘Northern Powerhouse’ is intended to come into fruition via the following targets:
- Match the North West’s long-term growth rate to that of the rest of the UK.
- Match the North West’s employment rate to that of the UK average.
- Invest £4.5bn in the existing railways and roads, as well as developing new trains and more urban transport.
- Invest more into scientific activity taking place in the region.
- Improve the quality of life in the North West: maintain culture and countryside; build new homes; raise the standard of education.
- Deliver a new directly-elected Mayor for Greater Manchester.
It must be considered that this investment in transport is on top of the £42.6bn already being put into high speed rail links from the North of England to the South. Those concerned about the extravagance of the government must examine the intended outcomes. It’s expected that by 2030, the North West’s economy will have grown £18bn, meaning that in 15 years the average worth of a person in the region will have increased by more than £2,000. Other targets include 100,000 more people in the region being in work.
Of course, historically, being at the forefront of industry, the north enjoyed great prosperity in industrial markets. Recently, we saw a share of the UK’s media relocate to Salford’s MediaCityUK. Now we hear that scientific innovation in the North West will be invested in. It could be that we are on the outset of a new age for the North West as it starts to be taken seriously in a variety of trades. As a B2B PR agency based in the North West, we are excited at the prospect of businesses booming in our region and being part of this soon-to-be ‘Northern Powerhouse.’
Alex Brown has just started his career at Skout PR and will be a regular contributor to the Skout blog.