Ex-Chancellor Sajid Javid could be forgiven for thinking he got out at just the right time.
His successor in number 11 Downing Street Rishi Sunak , has been left in the unenviable position of having to present the new Government’s Budget today, with less than a month to prepare - only to be hit by the double whammy of the coronavirus.
So while Brext, health, HS2 and other long-term infrastructure investments remain a priority, so too will be measures to address the financial and industrial fall-out of a virus, the likes of which no modern government has had to deal with before.
The impact of today’s Budget will be fundamental to the way the East Midlands economy prospers in the years to come.
Midlands Connect , the body tasked with boosting transport links across central England, is urging the Chancellor to back its suggestions for a £3.5 billion package of upgrades, which it calls Midlands Engine Rail.
It says its plans have the potential to add 736 services to the region’s rail network each day, make the most of capacity released by HS2, and introduce services that will bring high speed trains into Nottingham and Leicester city centres.
It says a £2 billion Midlands Rail Hub would “revolutionise” services between towns and cities including Coventry, Birmingham, Leicester, Nottingham, Derby and Lincoln, Worcester, Hereford and beyond, and improve at Birmingham’s Moor Street station.
It also wants financial backing for Midlands-wide contactless ticket payments on public transport - similar to the technology used in London - allowing unlimited travel on rail, tram and bus services across the region.
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Midlands Connect also wants the region to receive its fair share of roads investment, including a decent share of £3.5 billion the Government is setting aside for improvements to strategically-important local roads over the next five years.
Midlands Connect director Maria Machancoses said: “Government must deliver on its promise of an infrastructure revolution and repay voters across the Midlands that were so pivotal to its election success.
“Creating a transport network fit for the future will spearhead prosperity, productivity and opportunity for decades to come.
“I urge the Chancellor to back Midlands Engine Rail to maximise the benefits of HS2, and allow our ambitious plans for the Midlands Rail Hub to move forward, better linking towns and cities across the region and levelling up the 海角视频 economy.
“To further grow public transport usage in the Midlands, we must also make it simpler to pay for tickets.
“Our smart ticketing plans for region-wide, universal contactless payments with a daily cap could revolutionise the way passengers get around the Midlands.
“It is already being looked at in Nottingham and the West Midlands and we are ready to start developing plans to roll it out elsewhere.”
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Scott Knowles, chief executive at East Midlands Chamber, also said it was time for Boris Johnson and his Government to replace pre-election promises and soundbites with “concrete actions” and commit to creating an environment in which businesses and communities can thrive.
He said: “If Government is serious about ‘levelling up’, nowhere more needed than the East Midlands, it must take on board the real-world issues and concerns that, along with sustained uncertainty, have meant many of our businesses have been operating with the handbrake on in recent times.
“This Budget must be one of aspiration.
“This includes committing to infrastructure investment, breaking down barriers that inhibit growth - such as the broken business rates system - and supporting businesses in their key priorities, like attracting the right people and enhancing climate and sustainability credentials.
“This budget is an opportunity to put business, the creators of wealth and prosperity, front-and-centre in the 海角视频’s drive for future prosperity and it is vital this opportunity is seized.”
Elsewhere a survey of industry taken for the latest Lloyds Bank Business Barometer also suggests the Budget priorities for East Midlands’ businesses include reforming business rates and highway and road improvements along with incentives to encourage greater decarbonisation.
Amanda Dorel, regional director at Lloyds Bank Commercial Banking, said: “Businesses in the East Midlands have their sights on a change to business rates to help fuel growth and will also be hoping for promises of investment in the region’s roads and highways to help further boost connectivity and ease the movement of skills and goods across the region.
“It is also encouraging to see businesses looking for greater incentives to promote decarbonisation.
“We will be supporting local firms aiming to reduce their environmental impact throughout 2020 as part of our Clean Growth Fund Initiative.”
The Federation of Small Businesses and X-Forces Enterprise - which supports start-ups launched by ex-military personnel - said they jointly welcomed expected plans for a one-year employer National Insurance Contributions holiday for small businesses to employ Armed Forces veterans.
It was one of a number of measures recommended by the FSB, and supported by XFE, to stimulate the employment of veterans in small business in Britain.