Published: 5th Apr 2019

A cross-party group of MPs has launched an inquiry into how to support business investment and economic growth in all parts of the UK. The inquiry by the business, energy and industrial strategy select committee will examine the barriers to establishing new businesses, the role of regional bodies in promoting growth and how areas are prioritised for local industrial strategies. The committee has also published correspondence from the Department for Business, Energy and Industrial Strategy, showing a breakdown of regional funding from the British Business Bank, which aims to increase the supply of finance to smaller businesses. Figures show how in the year to October 2018, companies in London received 54% more finance than those in the North West region, despite the capital’s population is just 15% higher. According to the committee, the UK has a long-standing productivity problem, exacerbated by wide disparities in productivity between regions around the country. While labour … (To read the full article, subscribe below)