Sir Roger Marsh OBE DL, Chair of the NP11 group of northern Local Enterprise Partnerships said:
The North of England is a hotbed of innovation and invention, so I’m delighted the Chancellor is backing our region by locating six of England’s eight new investment zones here in the North.
The confirmation of £80m funding per investment zone over the next five years will help the North build on its internationally significant strengths in industries such as clean energy, life sciences, advanced manufacturing, digital and creative industries, ensuring our region plays its full part in building a Global Britain that is known the world over as a Science and Technology Superpower.
Although we warmly welcome the significant support for the North’s innovation and R&D capabilities announced today, investment in academic institutions and research centres must go hand in hand with support for industry-led innovation to truly supercharge business growth and increase international trade. Likewise, to deliver on our promise of levelling up the North’s economy, we must consider how we can support emerging innovation clusters in all areas to become growth engines for the future, as well as ensuring those that play an important role in supporting local economies and job creation continue to thrive.
We also welcome the confirmation in the Budget of significant investment in carbon capture and storage and low carbon technologies. The North is already the UK’s Net Zero Powerhouse, responsible for half of the country’s renewable energy, and we are in pole position to help the Government unlock the once-in-a-generation economic opportunity that the global transition to Net Zero represents.
The NP11 has long argued that empowering local civic and business leaders is critical to ensure investment is targeted towards the specific strengths and opportunities of individual places, so we welcome moves towards greater fiscal devolution. There are opportunities for clean and innovative growth in all parts of the North, and as the Government levels up, we must ensure those areas earlier in their devolution journey are not left behind. This will be crucial as the role of Local Enterprise Partnerships becomes more integrated within local democratic structures, and we must preserve the public-private partnerships and cross-boundary, strategic thinking that LEPs have brought.
We look forward to working with the Government, in collaboration with the North’s civic and business leaders, to maximise the North’s potential for the whole country, while also making good on the Government’s commitment to levelling up all our communities, which was a core theme of this Budget.
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