Burnham backs Rainmakers to ‘build wealth, bring jobs and prosperity’
Greater Manchester Mayor Andy Burnham committed to making sure pension fund reforms don’t create a blockage in the investment in ambitious, growing companies across the region.
Speaking at the Rainmakers Conference in Manchester, the Greater Manchester Mayor acknowledged the concerns within the 400-strong audience of corporate finance professionals and business owners.
“We know there are issues that you will have on your mind about reforms to pension funds, and we have concerns about the consolidation of local government pension funds, because I know many of you have worked in partnership with Greater Manchester to invest via those funds,” he said.
“We will be absolutely ensuring whatever reform comes through, it doesn’t stop the investment coming down to those scale organisations in Greater Manchester, and we’ll work with you to make sure that happens.”
Burnham opened TheBusinessDesk.com’s annual event by recognising the crucial role the sector plays in creating employment opportunities and economic growth.
He said: “My first job is to thank you all most sincerely for what you do to back businesses across Greater Manchester and the North of England and build wealth here, bring jobs and prosperity here.
“Often it goes unnoticed – and perhaps you don’t think people like me notice it, but we do – and we appreciate what you do and your commitment to this wonderful part of the world.”
He looked ahead to what he hopes will be “the best decade we’ve seen in 100-plus years in Greater Manchester” as the momentum continues to deliver investment at scale.
Burnham said: “We are about to agree with our leaders and hopefully with the government in the Spending Review, a 10-year investment pipeline for our city region, where we build more capability at the centre, so that we can bring those big regenerations through, like at Old Trafford and Atom Valley.
“We are saying to the government, we want to be investing at least £1bn, but more likely £1.5bn, a year for the next decade, in Greater Manchester’s infrastructure, but in our sectoral and industrial development as well.
“And we want to work with all of you, because we want to maximise that investment opportunity, we want to make it as coherent as possible for you with the kind of locations where we’re prioritising the green economy, or where we’re prioritising advanced materials, like we did with Media City a number of years ago.”
“We believe you create more of those global clusters across the city region that creates the potential for the spin outs that you will want to back. And we want to get all potential investment partners lined up together with us and in the mix.
“For me, this is our moment, and we mustn’t miss it.”
Burnham, who is now in his third term leading Greater Manchester, was bullish about the rate of growth in the city region, which is averaging just under 3% since 2015.
“I don’t think we’ve ever lived in a more exciting moment in Greater Manchester in our lifetimes, because the change is visible if you look at the skyline of the city, and that reflects an incredible decade,” he said.
“It’s a growth story that is increasingly being noticed now, both here and around the world.”
