The Northern Powerhouse continues to grind forward.
Minister Andrew Percy believes that northern business is “firing on all cylinders.” The campaign, originally pioneered by George Osborne, has continued to secure pledges from very prominent companies across the country. Including names such as Santander, Ernst & Young, and Vodaphone, over 90 leading organisations have now pledged to be Northern Powerhouse Partners.
Although deliverables for such a large-scale effort have been as of yet unclear, the reality is that the campaign remains an integral part of government strategy. Plans to realize the vision include £3.4bn worth of Local Growth Deals to boost regional growth across Manchester, Leeds and Liverpool.
Most importantly, this campaign is geared to target local economies. A £400m investment titled the ‘Northern Powerhouse Investment Fund’ will be directed to the aid of small businesses.
Already gains have become apparent, with Manchester, Leeds and Liverpool topping the list for startup growth in the U.K this past year. With government policy uncertain amidst Brexit trade concerns, it is refreshing to see that the North is well placed for long-term growth. Let’s just hope that as Theresa May returns to 10 Downing Street she continues to honor that commitment to The Powerhouse.