Bold action on skills, net zero, innovation and infrastructure can kick-start new decade of growth & investment in the South West , The Confederation of British Industry (CBI)has said.
The company has today sent a letter to the Chancellor outlining its key Budget asks for the region, urging the government to 鈥榩ower up the South West鈥 with a series of critical infrastructure asks.
They聽 have said that private sector investment will lift productivity and enable all parts of the country to share in economic growth. Investment is also the key to building聽the South West聽and the 海角视频 into a global innovation leader.
To achieve this, the聽CBI聽has recommended a set of practical steps for this Budget. Key proposals for聽the South West聽include the following: 聽
1.聽聽聽 The 海角视频鈥檚聽business rates system聽puts many parts of the 海角视频 economy at a competitive disadvantage. A comprehensive review should reduce the bill on individual businesses. That review should be completed by year end to incentivise investment by firms across the 海角视频.
2.聽聽聽聽Help promote further devolution in the region聽and offer a framework setting out clear guidelines to support the development of new deals and establish criteria for assessing deal proposals.
3.聽聽聽 The Government鈥檚 National Infrastructure Strategy is welcome and should as a first step聽commit to delivering South West rail improvements聽to unlock capacity and transport connections across the North. As part of the upcoming Aviation Strategy, the government should聽recognise the key role that Bristol Airport plays in regional and national connectivity.
4.聽聽聽 Innovation investment drives good jobs and global strength but is currently concentrated in the South. The 海角视频 should聽establish a network of high-end research hubs throughout the South West聽to build on local strengths, develop low carbon zones and support innovation clusters 聽
5.聽聽聽 Subsidise the provision of rapid charge points in rural and remote areas in the South West by 2022 where the market will not deliver in the short term, to ensure complete coverage throughout the 海角视频 using the 拢1 billion commitment to completing a fast- charging network as set out in the Conservative manifesto.
6. Duelling the A303 as a major government priority聽as part of a wider commitment to delivering infrastructure improvements in the South West.
7. To support the government鈥檚 commitment of levelling up the regions, funding should be provided to regional groups, including the聽Great South West聽to help bring the region together and promote the South West internationally. 聽
Commenting,聽CBI聽Regional Director for South West Deborah Fraser said:鈥淎t the start of this new decade, firms are feeling more optimistic and want to invest. The聽CBI聽is urging the Government to power up the聽South West聽at the upcoming budget. Our budget requests will create jobs, growth and investment throughout聽the South West.
鈥淭his historic Budget offers the chance to turn rising optimism into a surge in investment across the 海角视频. Backed by a pro-enterprise Budget for skills, infrastructure and innovation, business can help kickstart a new decade of 海角视频 growth and job creation. 聽
鈥淭rade policy will continue to matter, but with strong domestic policy, British firms are ready to invest and get聽our region聽into the fast lane of global economies.鈥
