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Posted on:
30th January, 2025

As Chancellor talks up economy "...it is business who create the jobs and opportunities that in turn deliver growth" says network chair Mark Bretton MBE

On 29 January the Chancellor gave a major policy speech on economic growth at the Siemens MedTech centre in Oxford (Healthineer) flagging a number of long term major infrastructure projects. Below Business Board Network Chair, Mark Bretton MBE TD DL, sums up our response.

As Chancellor talks up economy "...it is business who create the jobs and opportunities that in turn deliver growth" says network chair Mark Bretton MBE

“The drumbeat of the major infrastructure projects highlighted by the Chancellor to galvanise growth make business sense. But the planning and eventual realisation of these major investments, and hundreds of others, are very much dependent on, and play to, the strengths of Business Boards in Mayoral Combined Authorities and across all regions, which act as the instigators and visionaries of local growth – the likes of the Oxford Cambridge Growth Corridor, Old Trafford development in Manchester, and the South Yorkshire Airport City, get done thanks to the experience, networks and business nous these business leaders bring.  Put simply, without the support of business and the local Business Boards that represent their voice in local decision making, the dream of growth will remain just that, a dream.

"So, it is a confusing contradiction that at the very time government has driving growth as its number one mission and seeking the support of business in doing that, that it has launched a consultation on withdrawing its support for business engagement and regional economic planning.  Local business leaders are completely frustrated at the continual review and rereview of their efforts to work together with local government to drive growth.  They want to get on with real work, knowing that they have the support of government to do this.  After all, it is business who create the jobs and opportunities that in turn deliver growth.  Government’s role is simple; create the right stimulus and give the freedom and support to allow business to do what it does best.  So no more reviews please, provide the small amount of funding that’s urgently needed and let’s focus on turning the dream of growth into the reality of prosperity."