Bob Ward, North West Senior Partner for EY, comments on what the Budget means for the region

“The Chancellor has committed to a huge £600bn of spending across the UK with a focus on roads, rail, broadband and housing, and whilst there was continual mention of “levelling-up”, it’s imperative that the North receives its fair share of investment to correct the current imbalance and help fix long-standing issues such as efficient coast-to-coast connectivity.

“It is reassuring to hear the Chancellor make direct reference to the “unclogging of Manchester’s arteries” as he revealed his new plans to “get Britain moving”, with infrastructure representing an important part of the solution. It was also encouraging to hear him comment on the growing disparity between North West’s cities and towns.

“This disparity was highlighted in our most recent Regional Economic Forecast and is a growing concern, so I am glad to see the Chancellor confirm the Government’s plans to invest in towns like Preston, amongst others, through both the Towns Fund and the Transforming Cities Fund.

“Promised increases to R&D funding are critical to help to promote growth in the Northern economy, specifically within the digital and technological sectors, and continue to attract large media organisations such as the BBC, Sky and Channel 4.

“I also welcome the Government’s decision to agree a devolution deal with West Yorkshire, alongside plans to relocate a large proportion of treasury staff to the North, further supporting the region’s growth and skill diversification.

“Finally, the establishment of a carbon capture research cluster in Merseyside as part of a £800m investment, thus creating up 6,000 highly skilled jobs is a very exciting prospect for the region.”