By David Ralph, Chief Executive of the Heart of the South West LEP
Economic growth driven by science and innovation is set out as one of the Government’s key priorities. But what this looks like in practice is falling short of the ambitious plan our country needs.
The Autumn Statement lacked a plan for real growth, bringing about stability in lieu of driving new industries and innovation. The Chancellor’s new vision for prosperity, the ‘four Es’ – enterprise, education, employment and everywhere – still fails to set out a clear plan to push forwards for real growth.
Setting an ambition for all places (‘everywhere’) to benefit from Levelling Up falls short of the ambitious, local strategic plan our areas need.
What could a proper plan look like?
It seems hard to imagine, but just a short while ago we had such an approach. I don’t want to get hung up on labels and names, but the basis of a strong plan remains the same.
It must be based on robust evidence, and focus on the central economic challenge. For this area, it is decades of low productivity, in turn causing reduced earnings and standards of living, and significant areas of low social mobility.
A strong plan must have places at its heart, focussing on their local distinctive strengths and giving them the freedom to do things differently.
And a strong plan must be owned collectively by local government, businesses, education and communities – those places where the plan will become reality. The Heart of the South West has distinctive challenges of course, but also distinctive opportunities, especially in new growth areas such as zero carbon energy, high tech engineering and digital.
Any new plan for growth must be based on the above, and come coupled with the freedom and resources to make the investments and decisions to realise those opportunities. Investment in innovation, in supporting businesses to invest and trade, in creating the skilled workforce for the future, giving them the opportunity to benefit from growth opportunities. Investment in the connectivity our area needs in transport and digital, investment to ensure remote communities can access new jobs in growth sectors.
Our challenge is to grow productivity and prosperity in a rapidly changing world. We need an ambitious, substantial plan for growth to ensure our places can meet that challenge head on. Until then, statements and headlines remain just that.
