PM & Chancellor's Economic Plan For Yorkshire
They've been in the region today
The Prime Minister and Chancellor have been visiting the region today to announce their long term economic plan for Yorkshire and Northern Lincolnshire. George Osborne promised to improve jobs, transport, manufacturing, science and tourism.
The pair set out their six-point long term economic plan for Yorkshire and Northern Lincolnshire showing what has been delivered, what is underway and what more can be done to support the regional economy in the long term.
They met up to deliver speeches at the former home of Yorkshire Chemicals – now AQL – to set out the detailed plan as part of a day-long tour of the region.
The plan aims to:
1)** **Increase the size of the Yorkshire and Northern Lincolnshire economy by an extra £13 billion in real terms by 2030, equivalent to over £2,000 per person – by increasing the long term growth rate of Yorkshire and Northern Lincolnshire to at least the long term growth rate of the whole of the UK
2)** **Raise the employment rate of Yorkshire and Northern Lincolnshire so that there are over 100,000 more people in employment here during the next Parliament – by backing business growth, business investment and business start-ups
3)** **Deliver at least £6.4 billion of investment in transport in Yorkshire and Northern Lincolnshire – including the electrification of existing rail lines, new and faster trains, and a major upgrade to key road routes like the M62 across the whole region. This is on top of the huge investment in new high speed connections from the north of England to the south and the potential for investment in high speed connections east to west across the north of England
4)** **Back the core strengths of Yorkshire and Northern Lincolnshire’s economy – with major new investments in scientific excellence, and a particular focus on renewable energy on the Humber, food production in North Yorkshire, advanced manufacturing in South Yorkshire, finance and tech in West Yorkshire, and an assurance that local people can get the high end skills they need to secure great careers
5)** **Raise the quality of life in Yorkshire and Northern Lincolnshire – by supporting its unique cultural, creative and sporting strengths, cementing its position as the UK home of road cycling, backing its great galleries while also building up to 20,000 new homes and improving education outcomes in the region's schools, so over 95,000 more pupils attend outstanding schools
6)** **Devolve greater powers the great cities and counties of Yorkshire – by continuing work on the recent Sheffield City Region devolution agreement, and working towards a devolution deal for West Yorkshire too
There are no quick fixes to achieving these important goals, so the Prime Minister and Chancellor are also setting out a specific timetable to deliver the key concepts of this plan over the five years of the next parliament, and the following decade (see details in notes to editors). As important next steps in the plan for Yorkshire and Northern Lincolnshire, the pair announced a number of new measures to improve transport links, invest in the science, renewables and technology industries, back cycling and tourism, and improve governance:
Creating a more modern rail network in Yorkshire by looking at the case for providing the infrastructure needed to allow the new East Coast InterCity Express trains to run at 140mph, by supporting the private sector contribution to make the electrification of the Selby to Hull railway line a reality, and by asking Sir David Higgins to produce an interim report on the future of Leeds Station by autumn 2015
Working with leading employers to support Yorkshire and Northern Lincolnshire’s manufacturing, science, and technology sectors including by further developing the skills base with £17.5 million of new funding for SMEs across the West Yorkshire Combined Authority to develop their workforces, and a new renewable industries University Technical College in Hull
Backing British cycling and supporting the culture and tourism sector with ÂŁ1.5 million to help Welcome to Yorkshire, a further ÂŁ1.5 million to help bring the Turner Prize to Hull in 2017 and support for any bid to bring the Cycling World Championships to Yorkshire - as well as ÂŁ450,000 towards creating a new cycle gateway to the Yorkshire Dales National Park
Improve governance across the region by announcing that the government will conclude a new Devolution Deal with West Yorkshire Combined Authority by the Budget, following the successful Devolution Deal signed with Sheffield in December
As both the Prime Minister and Chancellor have set out clearly, the only way for the UK’s recovery to be truly sustainable is for it to be truly national. While the challenge is significant, so is the prize ahead. By pursuing this plan, the Prime Minister and Chancellor aim to achieve real outcomes for the people of Yorkshire and Northern Lincolnshire, who have already seen the fastest private sector employment growth outside of London and the fastest growth in productivity in the UK.
The Prime Minister and Chancellor will be visiting a variety of businesses and institutions across Yorkshire and Northern Lincolnshire to hear how the government’s long term economic plan is delivering for them and what more can be done to support the region.
The Chancellor started the day with a visit to the Yorkshire Dales while the Prime Minister visited the Capital Park link road in Goole, before the pair met up to deliver speeches at the former home of Yorkshire Chemicals. They will then visit one of the region’s most iconic venues before visiting an advanced manufacturer. The day will end with a visit to one of Yorkshire’s largest employers.
Prime Minister, David Cameron said:
“Our long-term economic plan for Yorkshire and Northern Lincolnshire, which will create more jobs and financial security for hardworking people across the region, is a key part of our work to build a Northern Powerhouse that can take on the world. The North is growing and by ensuring we have world-class infrastructure, backing business and supporting the industries of the future, we are determined to go even further.”
Chancellor of the Exchequer, George Osborne said:
“We want a truly national economic recovery. The evidence is that this is happening. Yorkshire is growing and creating jobs and on many measures doing so more quickly than the rest of the country. Now we need to sustain this and remove the decade’s old North and South divide. That is why the Prime Minister and I are here today setting out how we will build a Northern Powerhouse. Our long term economic plan for Yorkshire and Northern Lincolnshire will create 100,000 new jobs, boost the region’s growth by up to £13 billion and significantly improve the quality of life.”