Video Report: Merseyside State of the Region round table

BUSINESS leaders on Merseyside are “cautiously optimistic” for the future, despite short term concerns over the impact of public sector cutbacks.

TheBusinessDesk.com’s State of the Region round table discussion held at the Liverpool offices of leading law firm DLA Piper heard a range of views from senior professional advisers, entrepreneurs and business support groups from the public and private sector.

Although there was concern over the impact on the Liverpool City Region of public sector cuts – particularly the £350m investment lost to the area after the axe fell on the Building Schools for the Future project – there was positivity over international trade and the Shanghai Expo in particular.

All agreed that although painful, Chancellor George Osborne’s maiden budget last month was necessary in terms of cutting the national debt.

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“Britain will be stronger economically” – Tony Caldeira 

There was consensus that the body created to take over from the North West Development Agency – a Local Entreprise Partnership – must represent the city region – and including boroughs such as Halton, St Helens, the Wirral and Knowsley as well as Liverpool itself.

The panel comprised of Philip Rooney, senior partner of DLA Piper’s Liverpool office; Neil Pakey, deputy chief executive of Peel Airports; Jack Stopforth, chief executive of Liverpool Chamber of Commerce; Warwick Ley, partner at private equity firm Endless ; Julie Gill, director of resources, Cheshire West & Chester Council; Ian McCarthy, director of corporate services, Liverpool Vision.

Entrepreneur Tony Caldeira, managing director of home textiles firm Caldeira, Mark Goodwin, partner and head of litigation in Liverpool, DLA Piper and Tim Rigg, Merseyside director at Lloyds TSB Corporate and Sean Beech, senior partner in Liverpool at business advisers Deloitte completed the line-up.

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“A lot of businesses have already taken action” – Tim Rigg 

Mr Stopforth flagged-up concerns over the “unintended consequences” of the public sector cuts on private sector companies, and also the importance of funding the new Mersey crossing for future economic prosperity. 

Tony Caldeira said: “In the short term there is anxiety and confusion – I think in the medium and long term there is opportunity there for us all to take, particularly in China and the Far East.”

Warwick Ley, whose firm Endless has a track record of turning around distressed businesses, said the world economy was still recovering from the “pretty big shock” in terms of the failure of Lehman Brothers at the height of the credit crunch.

“There’s some inflationary pressures on the horizon in terms of raw materials, and there is a sense of fragility around the recovery.”

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“Doing business with China is a long-term relationship” – Philip Rooney 

Julie Gill gave a pragmatic reaction to the Government’s public sector cuts, stating: “We just need certainty about the future – it’s a bit silly season at the moment in terms of uncertainty.

“In my opinion the public sector needs to seize the opportunity to refocus, and of course to make sure the North West is open for business.”

Philip Rooney said the current situation presented ‘challenges and opportunities’ for the public and private sectors, and also for local politicians, adding: “I am a great believer in city regions and I think there are strong foundations to be built on here.

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“It’s very difficult working with Manchester” – Neil Pakey

If you are interested in working in partnership with TheBusinessDesk.com on a round table event, call Lee-J Walker on 07890 045878 or email him here leej.walker@TheBusinessDesk.com