With the new coalition government demanding significant cutbacks from the public sector, the businesses of Yorkshire and The Humber are being asked to step up and drive the regional economy. But hopes for a private-sector-led recovery are clouded by the fact that many local companies are still facing severe cashflow issues following the recession.
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This is a pivotal time. So much good work has been done by bodies such as Yorkshire Forward and Welcome to Yorkshire but the gradual winding-down of the former has prompted some to voice concerns that the region will lose its voice in Whitehall.
Both the Leeds and Sheffield city regions have received the green light from central government to form Local Enterprise Partnerships, but there remains a lack of clarity over how these will operate and – crucially – where the money will come from.
Yorkshire must build on the work already achieved with the city region models and ensure that all of our local MPs speak with one voice. Insider has also launched a campaign to improve the oft-maligned cross-pennine railway line linking Leeds and Sheffield to Manchester.
None of this will be simple, but in Yorkshire it is clear that the energy is there to succeed. What we must not lose sight of is what makes Yorkshire great. The Yorkshire Dales, City of York, North York Moors and Peak District continue to attract millions of pounds of tourism investment to the region.
On the business front, Sheffield remains a bastion of manufacturing excellence but is also producing world-class work in areas such as digital and healthcare. In Leeds, the construction and property markets are showing signs of recovery, and it will be vital to ensure the availability of high quality commercial property to let in Yorkshire. Work has commenced on the city’s Arena and two major retail projects are back on track. Not many cities can claim that level of ongoing activity.
And let’s not forget the plans to bring carbon capture storage to Yorkshire and the Humber, an initiative that could create thousands of jobs, with knock-on benefits to manufacturers and universities.
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