Leading real estate adviser GVA calls for more certainty over Northern Powerhouse

Tuesday, 22 November 2016

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Leading real estate adviser GVA calls for more certainty over Northern Powerhouse

As the Government’s commitment to the Northern Powerhouse comes under scrutiny, Nicola Rigby, Director in Planning, Development and Regeneration at GVA calls for the Chancellor to pick up from his predecessor and clarify how Government will move this agenda forward.

“The Chancellor must seize the opportunity to demonstrate real deliverables within pro-growth initiatives coming out of government. The government’s commitment to the Northern Powerhouse arguably remains ambiguous. The Chancellors predecessor, a strong advocate and supporter of the initiative, together with Lord Jim O’Neil’s resignation as Adviser to the Treasury and Chair of the Growth Commission in September, not to mention changing policy driven by Brexit, have cast doubt over the future direction and purpose of the Northern Powerhouse. We would welcome clearer direction on how this initiative will be supported in both the short and long term. It is vitally important that both the public and private sector is presented with more certainty in what is fast becoming a more uncertain future. An anticipated focus back on our Core Cities is not unwelcome, but the connections and relationships between the cities – a core driver behind Northern Powerhouse, remain of paramount significance.

“The ‘Northern Powerhouse’ has proven very effective in attracting foreign investment and lobbying for infrastructure investment because its combined market provides scale and depth. It has shown that if cities connect with each other and offer mutually beneficial support much can be achieved. The commitment to this initiative and announced investment plans must be honoured to retain credibility with external investors and markets.

“The UK’s provincial cities are critical to the economic growth of the country as a whole, and collaboration between many of the core cities has never been stronger.

“By combining forces into the ‘Northern Powerhouse’, ‘Midlands Engine’ and the southwest cities of Cardiff and Bristol, it is now evident such a link between cities provides a powerful voice which can command the attention of national governments.”

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