Member Article

The North Roars at MIPIM

Leaders from across the North gathered at MIPIM yesterday to showcase the extraordinary growth opportunity for the Northern Powerhouse.

The ‘Investing in the Northern Powerhouse’ briefing, organised by Leeds City Region in partnership with Manchester, Liverpool, Newcastle and Sheffield set out the challenges, opportunities and economic potential of the North to a packed audience of investors, developers and occupiers.

Roger Marsh, chair of Leeds City Region Enterprise Partnership, said, “People are waking up to the fact that the North is not the problem but the solution to the UK’s debt problems. Together, the North equates to 80% of London’s economy, despite not yet fulfilling its economic potential. It is clear that with the right mix of reforms, powers and fiscal devolution, the opportunity to drive extraordinary growth is not only significant but critical to the future fortunes of our country.”

Three core themes emerged from the session focusing on growth and productivity, reform and effective fiscal frameworks.

Sir Howard Bernstein, chief executive of Manchester City Council, said: “The Northern Powerhouse encapsulates policies and aspirations promoted by Manchester over many years. Its pivotal focus must concentrate on linking the North’s economy with the rest of the country, including London. A multi-modal transport strategy - which is still waiting for a Government response - will connect both this ambition and cities together. This connectivity also extends to cities working closer together - to share skills and research around science and technology, in particular, to build on the distinctive global strengths of our institutions.”

Regional connectivity was highlighted as a critical factor in the success of the North and the ability to move people and goods quickly, easily and cost effectively between our cities and towns. The £350million investment in Liverpool2 was cited as an example of the ambitious projects that are starting to come to fruition with the potential to transform the north west into a global logistics hub.

Ged Fitzgerald, chief executive of Liverpool City Council, said, “This mornings discussion demonstrated the economic potential that the Northern Powerhouse represents. However for that to be fully realised we need urgent and meaningful discussion with Government about effective fiscal devolution.”

Pat Ritchie, chief executive, Newcastle City Council spoke about the need to retain talent and attract young wealth creators, “The North has the opportunity to do something transformational and compelling to retain talent and keep the best skills and entrepreneurs here. Our universities, centres of excellence and infrastructure are critical to this but so is creating places where people want to live, where they can enjoy an outstanding quality of life - the North can offer this.”

A straw poll by Professor Greg Clark, chair of the session, illustrated that the ambition and collaborative approach was well received by the audience, unanimous in their support for the Northern Powerhouse and convinced that it was gaining increasing momentum and developing into an exciting prospect for investors.

Ben Still, chief executive, Sheffield City Region said, “Northern Powerhouse is always a hot topic and today’s excellent event builds the increasing momentum. It is clear that Sheffield City Region’s world class advanced manufacturing hub is excellently positioned to accelerate the north’s economic growth. We are committed to making it increasingly the norm that the north functions as a single labour market to fully optimise the UK economy.”

This was posted in Bdaily's Members' News section by Ben Ormsby .