The CBI unpacks the potential implications of the Budget across the regions.
This time next month, we’ll have a clearer idea from Treasury how the ‘levelling up’ agenda takes shape. In anticipation, this week the CBI submitted its Budget submission to the Chancellor focused on creating jobs, growth and investment throughout the UK. We believe bold action on skills, net-zero, innovation and infrastructure can kick-start growth and investment across the UK’s regions.
Just today we’ve received government’s backing to deliver HS2 in full to unlock capacity and transport connections across the North, Midlands and beyond. Government should also allocate funds to a wide range of strategic infrastructure projects including Northern Powerhouse Rail, Midlands Engine Rail, East Coast mainline in addition to reforms to the Green Book when assessing new infrastructure to help close the regional productivity gap.
Ultimately, it’s private sector investment that will lift productivity and enable all parts of the country to share in economic growth. Private sector investment has fallen over the past coup
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