South West: setting out a revival plan for prosperity

From Brunel through to the latest developments in robotics, the West of England region has often led the way in technological change. It is home to the biggest aerospace cluster in the UK and hosts four prestigious universities fuelling research and innovation. There has been severe economic damage to the regional economy, but the region should focus its recovery on long-term, sustainable growth that will help businesses to thrive and compete internationally.

Following their election in May 2021, the new mayor for the West of England Combined Authority (WECA) will be the champion of a diverse and ambitious region. In advance of this election, the CBI has created a manifesto setting out how businesses and the newly elected mayor can work together to create a regional economy that rivals London in terms of productivity and job creation. This is based upon three guiding principles:

1. Champion regional dynamism and global competitiveness to raise living standards

The mayor should harness their leadership position to promote the region on a global stage, attracting and growing world-class businesses through a strong economic vision and a pro-business environment. The mayor must drive forward innovation within the region and support the aerospace, retail, hospitality, and cultural sectors which have been hit the hardest by the pandemic. Focusing on the region's strengths in R&D can establish the West of England as a global centre of innovation.

2. Transform digital and physical infrastructure on the race to net zero

The South West is already at the forefront of green technologies. By investing in digital and physical infrastructure, utilising the region’s natural resources will help meet the West of England’s ambition to achieve net zero by 2030. Gross Value Added (GVA) has grown more slowly in the WECA than some other regions. According to ONS data GVA growth increased by 15.5% in the period 2010 to 2018. Taking action to ensure inclusive growth can ensure the future of the region is more resilient and address its productivity challenge.

3. Stimulate job creation and secure an inclusive workforce for the future

There remain significant inequalities across the combined authority with attainment for disadvantaged pupils below the national average. The mayor should use the devolved adult education budget to aid the re-training and re-skilling agenda, making sure solutions are appropriate for the local area and skills needs.

Get Involved

The CBI is hosting a series of business hustings to give you the opportunity to hear directly from some of the mayoral candidates in advance of the elections. Explore and book onto all of our hustings across the country.

As well as this the CBI is developing three-point regional actions plans based upon the three key themes from Reviving Regions:

• Build vibrant local labour markets
• Transform local infrastructure to facilitate new ways of working
• Inspire world-class, innovative businesses to invest in all regions.

Get involved with this work and have your voice heard.

These will shape our regional policy for the months ahead. If you would like more information, or to get involved please contact Nicky Williams.