Key asks to achieve growth and build on devolution success
Date published:
The Chamber’s latest column for The Journal by Marianne O’Sullivan, policy manager.
As we emerge from a too-comfortable two weeks of all day pyjamas and finish off the last of the rejected Quality Streets, the Chamber has been looking ahead to the government’s Comprehensive Spending Review.
This spending review will be a key opportunity for the government to outline how it will achieve its growth mission.
The Chamber will be gathering feedback from our members to ensure their views are represented. There is a key opportunity in the North East for the government to work in partnership with businesses and build on the success of devolution to deliver inclusive regional growth.
In our stronger, fairer North East strategy we have highlighted several key asks to drive growth including a review and reform of business rates. For the retail sector, this could play a major role in town centre renewal.
Delivering on the region’s infrastructure priorities will also be critical. Government must take action to address the challenges faced across our rail services, including the reopening of the Leamside line, and ensure our road network is fit for our evolving economy.
Our ports and airports are also crucial. Continued backing from the government for the new North East Green Superport and Teesside Freeport will accelerate growth. Support for small and medium businesses to trade internationally and adapt to digital trade will also increase access to global markets.
We know that increasing employment opportunities and addressing skills gaps in the region is a key priority for our members. Funding for further education in this spending review will be essential in delivering high quality, accessible education and training in the region.
Investment from government in sustainable energy generation and support for businesses to decarbonise will help the region achieve energy resilience and boost business confidence. Working in partnership with businesses to support innovation in the region will also help the government to deliver on its growth mission.
We have also recently released our Pensions Report for the North East which explores workplace pension challenges amid the cost of living crisis and proposed government reforms.
Pensions are a key opportunity for businesses to lead on financial wellbeing. With thoughtful planning, they can support growth, retention and resilience, helping to support the prosperity of our regional economy.
We are North East business and we will continue to work with our members to ensure a stronger, fairer North East for everyone in 2025 and beyond.