Published: 15th Feb 2021

The government should create a ‘Northern big bang’ and ‘unleash a torrent of investment’ in the region, according to a new report. The report from the Centre for Policy Studies (CPS) and Northern Research Group of MPs argues that the North once the powerhouse of the British economy, but today it has some of the least productive areas in Europe. It argues that London and the South East have monopolised investment, talent and attention in recent decades. And at present the Northern economy, measured by Gross Value Added (GVA) per capita, is three quarters the size of England’s average. The report calls for a new Initial Investment Incentive to attract new investments and global capital to the region. Other recommendations include leveraging UK Infrastructure Bank investments to unlock private sector investment where possible, creating a new Northern Infrastructure Bond aimed at attracting global investors. It also calls for automatic approval for planning applications which create more than 100 … (To read the full article, subscribe below)