Prime Minister and Chancellor of the Exchequer pledge to create northern powerhouse

Long term economic plan for the North West

The Prime Minister, David Cameron, and the Chancellor of the Exchequer, George Osborne, have today (Thursday 8 January) announced the long term economic plan for the North West.

In making the announcement, the pair revealed six headline pledges to ensure the economic growth of the North West with hopes of making the region a “northern powerhouse”.

The six pledges were:

• Creating 100,000 new jobs during the next parliament.
• Delivering the largest ever transport investment initiative that the North West has ever seen.
• Making the North West a global centre for science and innovation.
• Raising the quality of life in the North West.
• Giving real powers to cities and counties in the North West.
• Making people better off.

Upon making the announcement, Chancellor George Osborne said: “It is about the rebalance of the economy and I see a bright future for the North West economy which means a bright future for the UK. This is a long term plan which will make the North West a northern powerhouse which will include jobs, innovation, investment, increased income and will close the North/South divide.”

Prime Minister David Cameron added: “We are determined to deliver power to one of the best cities in one of the best regions. It is vitally important that we create a balanced economy. This time it will be done differently. We are determined to do it right and create a long term plan for this country. To create a strong economic balance, no one can be left behind. We need a strong London but we also need a strong northern powerhouse.”

The event was held by the Greater Manchester Chamber of Commerce and saw a number of Commerce representatives and northern business representatives attend the announcement in Manchester.

The Prime Minister and the Chancellor also took questions from those in attendance and were asked about Small Businesses, the NHS, apprenticeships and engineering.

Chancellor Osborne was also keen to stress that the rebalance that the pair often referred to was not only about the North and South divide but was also between industries.

Chris Fletcher, Director of Policy and Communications at the Greater Manchester Chamber of Commerce said: “First of all I think there was a good representation of people here today and I think it was a good event and announcement to show us what is along the road.

“Much of what was announced today, we already knew but there were some little surprises that were interesting to hear about.

"I think it was also good that the Chancellor was keen to stress that this rebalance isn’t just about the North and the South but is also about the industries that we have to offer, and Rochdale is one of those towns with a number of engineering industries and things still there.

"We will have to see what happens in the run up to the election and what the result is. We could be stood here again in twelve months’ time being told the same thing by someone else, we will have to wait and see.”