Today (11 May 2021) the Government set out its agenda through the Queen’s Speech for the coming parliamentary session.
The speech outlined proposed policies and legislation to ensure the UK builds back better and stronger from the pandemic.
Commenting on the Queen’s Speech, Sir John Peace, Chairman, Midlands Engine said:
We welcome the focus on levelling up in the Queen’s Speech. It signals a clear intent for this Government to unleash Britain’s potential and ensure sustainable post-pandemic, post-EU exit recovery and growth in every region of the UK.
As the region forecasted to experience the deepest social and economic impacts of Covid-19, we have a duty to act now to redress the balance and ensure that our young people, our communities, businesses and our SMEs in particular are supported and equipped to flourish.
The Midlands has always powered UK growth – home to 11 million people, generating 22% of England’s exports and an economy the size of Denmark’s, the Midlands is the birthplace of the UK’s industrial revolution. We are now poised to fulfil our vast potential as the region pivotal to building back stronger, better and greener; at the very heart of the Green Industrial Revolution.
Rachael Greenwood, Executive Director, Midlands Engine said:
“Levelling up the regions and achieving a fairer economy brings a valuable prize. Data from our Midlands Engine Observatory shows a regional GVA gap – and by just closing that gap, the Midlands economy could generate an extra £76 billion each year for our country.
“Enabled with the investment we need in our transport and digital infrastructure, and with huge gaps in R&D investment filled, the potential of the Midlands is simply vast: in low carbon energy; advanced manufacturing; health and life sciences; and as a hotspot – with two Freeports – to build ever-stronger trade-ties in support of our region’s exceptional opportunities for international trade and investment.
Levelling up the Midlands Engine means a long-term commitment and a portfolio of investment to overcome stubborn barriers to growth, and secure the health and wellbeing of our region’s people and economy.”
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