New combined authority must be the driving force behind the Midlands Engine
WHAT will be the driving forces of the Midlands Engine was the main topic for discussion during a special event held at the offices of EY in Birmingham.
The business advisor invited 21 business leaders and councillors from across the region to discuss the devolution of funding, powers and responsibilities ahead of the creation of the West Midlands Combined Authority (WMCA) today.
Sara Fowler, EY’s senior partner in the Midlands and Paul Brown, EY’s Director of Government & Public Sector hosted the dinner, which focused on what steps are needed in order to deliver the Engine’s growth agenda and drive forward the region’s economy.
Guests included Cllr Bob Sleigh, leader of Solihull Borough Council and chair of the Shadow WMCA and Mark Rogers, Chief Executive of Birmingham City Council. They were joined by regional leaders and key influencers, from both the public and private sector, and a diverse range of businesses.
EY recently launched a new report – From Whitehall to Townhall: Preparing for devolution to England’s city regions – that says unleashing the potential of the UK’s ‘core cities’ could generate an additional £222bn of GDP and 1.2 million jobs by 2030, based on figures from Oxford Economics.
The report looks at the progress of devolution deals across England and outlines the factors that have enabled certain cities to agree theirs.
The report concludes that the West Midlands has been galvanised by a fear of being left behind by the Northern Powerhouse.
Ms Fowler said: “At about 5.7 million, the West Midlands population is somewhat larger than that of Scotland, while Greater Manchester, at 2.7 million, is a little smaller than Wales.
“Birmingham is acutely aware that it should be the biggest hitter after London. We need to grasp this unique opportunity, cement the links between the business, public sector and universities, to boost productivity, develop a demand led approach to skills and add value to the economy.”
TheBusinessDesk.com and EY is currently running a new survey which could help to form the agenda for the new era.
We are asking our readers in both the East and West Midlands for your opinions on how the various bodies will collaborate, what the main issues they are likely to face, whether the existing infrastructure is capable to meeting requirements, what impact HS2 will play on the overall plan and who would be your choice for the important role of mayor.
It asks whether enough is being done to develop skills, whether more help should be given to encourage exports and fundamentally, does the region have a robust and balanced economy.
The survey can be completed here
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Mr Brown, who is also a member of the Black Country Local Enterprise Partnership, added: “Although the government has successfully pitched its devolution agenda as a historic rebalancing of power away from London, the West Midlands is at an early stage of its devolution journey, and the full impact of the agreements will take years to play out, with challenges along the way for both local and central government as they look to capitalise on the opportunities of economic development and public service reform.
“As a LEP board member, I have been working with colleagues from the West Midlands and East Midlands LEPs to create a £250m ‘Midlands Engine Investment Fund’, intended to boost the economy by supporting the growth of 460,000 smaller businesses. This is great news for businesses and just one example of the broad range of devolution powers and investment packages on offer.”
