Nottingham showing “signs of recovery”
Nottingham is showing small signs of recovery after the recession, according to Graham Chapman, deputy leader of Nottingham City Council. However, speaking to Insider, Chapman warned the cuts in the recent Localism Bill could lead to “hard times” for the city. He also revealed the council has pipeline enquiries for schemes which could create 600 jobs.
Chapman told Insider: “The big question is are we simply seeing the tail end of the previous government’s fiscal stimulus? Or are we witnessing private investment taking over the baton from the public sector and the first signs of sustained growth?
“We would like the answer to be the latter. But it may be the former because there are worrying signs. Crucial for the private sector is demand. Yet export demand has flattened.”
Chapman said the city council was prioritising further development of ultra-band, and green technology in the form of an energy park.
He said: “We are negotiating an extensive photovoltaic and insulation programme for both private and public sector housing and looking to engage in asset sales in order to keep our school building programme alive. We are supporting the science sector in a number of ways and hope to revive the Medipark near the Queen’s Hospital site.”
However, Chapman warned that the council can offer only a limited local stimulus for growth.
He said: “The government is relying totally on the private sector to take up the slack. And given the lack of hard evidence that this will happen compared with the certainty of decreased public sector spend, it is a leap of faith and one without a safety net. This could mean hard times for the city.”
