Business leaders in the South West have expressed concerns the region may have been overlooked in the Budget, with many of Chancellor Rishi Sunak鈥檚 key announcements centred around the North of England and the Midlands.
Mr Sunak laid out his plans on Wednesday, March 3, in the House of Commons, which included measures to level up the economic map of the country.
Plymouth is set for a 拢100m investment and jobs creation boost after it was announced as one of eight new freeports alongside Liverpool City Region, Teesside, Humberside and East Midlands Airport.
However, there was "bitter disappointment" after bids for a so-called 鈥楪reat Western Freeport鈥 in the Bristol region, projected to create thousands of job s, and another in Dorset, for Bournemouth, Poole and Christchurch, were overlooked.
Many areas in the region were identified as priority places to receive support from a 拢4.8bn 鈥楲evelling Up Fund鈥 and 拢220m 鈥楥ommunity Renewal Fund, such as the Isles of Scilly, Torbay, West Devon, Cornwall the Forest of Dean and Gloucester.
Yet Bournemouth and Swindon were the South West鈥檚 only representatives in a list of 45 areas included in the Chancellor's 拢1bn Towns Fund, which was dominated by places in the North West, Yorkshire and the Midlands.
Meanwhile Mr Suank鈥檚 other headlines announcements also included the relocation of a 鈥渟ignificant part鈥 of the Treasury from London to a new Northern base in Darlington.
Jo Edwards, head of the South West and South Wales at real estate company Colliers International, joined the mayor of West England Tim Bowles in expressing disappointment for the region鈥檚 failed freeport bid.
Ms Edwards, who leads the company's Bristol office, said: 鈥淭he Chancellor鈥檚 stated aim of 鈥榬edrawing the economic map鈥 is very welcome, but unfortunately this budget lacked significant measures to achieve this aim in the South West.
鈥淭he announcement of Plymouth and the Solent as locations designated for two of eight new freeports was good to see, as was the inclusion of Swindon and Bournemouth among 45 towns to share 拢1bn of funding from a new Towns Deals fund for levelling up.
鈥淗owever, the bulk of support in the Budget was focused on the North of England, and it was disappointing that the eight freeport sites announced did not include the ambitious bid for a 'Great Western Freeport' based around Bristol Port, the most centrally-located deep water port in the 海角视频.鈥
Ms Edwards was joined by two heads of two prominent chambers in the region in pointing out an apparent disparity in what was awarded between the North and the South West.
While welcoming the extension of Covid-19 protection measures including the furlough scheme to September, which would put businesses 鈥渁t ease鈥, Phil Smith, managing director of Business West, said the Bristol and Bath region was "losing out".
Mr Smith said: "Bristol failed to secure a Freeport for the region, as much of the focus of the chancellor was fixed on the North of England, Scotland and Wales.
鈥淭his is disappointing and we encourage our MPs and political leaders to continue to fight for our fair share of levelling up money to address the needs of this region.鈥
Stephen Henagulph, chief executive of Somerset chamber, said he was 鈥渄elighted鈥 for the South West as a whole following Plymouth鈥檚 successful freeport bid.
However, Mr Henagulph also echoed disappointment for the 鈥楪reat Western Freeport鈥 was not announced by the chancellor and that Mr Sunak had not mentioned the South West鈥檚 green energy sector during his speech.
Mr Henagulph said: 鈥淚t was also a little bit disappointing that the geography still seems to be slightly biased to the North as there was no mention of the South West, other than the freeport.
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"New initiatives are being centred in Leeds and Darlington and when the chancellor talked about wind and tide power, he gave the example in Scotland, yet we know in Cornwall there are some fantastic projects leading the way in autonomous marine.鈥
Commenting on the impact of the Budget on the South West, Mr Sunak said: 鈥淭oday鈥檚 Budget provides certainty in the months ahead for the people of the South West 鈥 with the cut in VAT to 5% for the hospitality, accommodation and tourism sectors, Self-Employment Income Support Scheme and furlough scheme all being extended through to September.
鈥淚 was also delighted to confirm that Plymouth Freeport was successful in the Freeports bidding process 鈥 bringing jobs, opportunity and investment to the region."
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