South West alliance publishes economic prospectus

An alliance of businesses and local authorities in the South West have published a prospectus, which aims to boost the regional economy by £45bn.

The Great South West prospectus sets out how, with Government support, the region can be a testbed for a greener, more prosperous economy.

It specifically calls on the government to formally recognise the Great South West as a growth alliance aimed at rebalancing the UK economy, with an identified minister for the region.

It also calls on the government to invest £2m over three years to build a business case for investment across a range of projects.

It also wants ministers to create a Great South West Tourism Zone to help the industry become more productive, sustainable and adaptable and develop a Rural Productivity Deal, in order to address the specific needs of the rural economy.

The Great South West prospectus will be formally submitted to government shortly and has the backing of Sir Gary Streeter, chair of the Great South West All Party Parliamentary Group and Conservative MP for South West Devon.

‘The Great South West is poised for a step change in productivity and prosperity, and supported by the government, we can capitalise on opportunities presented by the Industrial Strategy, building momentum for a region that is of national and international significance,’ said Dorset Local Enterprise Partnership(LEP) chairman, Jim Stewart.

‘This prospectus clearly sets out our ambitions to become the leading region for the green and blue economy.’

The chair of the Cornwall & Isles of Scilly LEP, Mike Duddridge, added: ‘The government has committed to changing the economic geography of the UK and to putting the environment at the heart of its economic policy, and that’s a great opportunity for Cornwall and the Isles of Scilly.

‘And by tackling shared agendas like transport and productivity at scale, we can reap the benefits of working together for all our communities.’

Photo Credit – TheDigitalArtist (Pixabay)