Chancellor selling Northern Powerhouse to the Chinese today
A PORTFOLIO of 13 Northern Powerhouse projects are being put in front of Chinese investors today.
Chancellor Phillip Hammond is putting the opportunities before investors as part of the UK-China Economic and Financial Dialogue, along with Northern Powerhouse minister, Andrew Percy and international trade secretary, Dr Liam Fox.
£5bn worth of projects, which include doubling the size of MediaCityUK in Salford, the growth of an aviation logistics hub in Doncaster and homes at Kirkstall Forge, have been named.
Other projects include Future Carrington in Trafford, apartment project Kampus in Manchester, land development at Liverpool Waters, as well as the pall Mall development in the city.
The Protos project at Ellesmere port in Cheshire has also been listed, as has the Stockport Exchange development and office development Vaux in Sunderland.
Chinese vice premier Ma Kai along with a senior Chinese delegation will also meet with the PM Theresa May and Bank of England Governor Mark Carney.
The Chancellor of the Exchequer, Philip Hammond said: “As we seek to take to take the golden era of UK China relations to the next step, we have a major opportunity to open up investment opportunities across the Northern Powerhouse.
“This portfolio, opening up billions of pounds of investment ready projects to Chinese investors, will support our work to grow and create jobs across the north, as well as underpin our ambitions to bring world class infrastructure to every corner of Britain.”
Northern Powerhouse Minister Andrew Percy said: “Building the Northern Powerhouse is at the heart of our efforts to create an economy that works for everyone.
“Investors from abroad know that the North has some of the world’s best and most talented entrepreneurs and businesses, and today we’re showcasing 13 oven-ready opportunities to them which could create thousands of jobs for years to come.”
