Mid Norfolk MP George Freeman at his constituency office in Dereham.; Photo: Bill Smith

How are we going to get the growth we need for a sustainable economic recovery? That is the big question facing policymakers in East Anglia and across the UK. It was also the theme of the Norfolk Chamber of Commerce’s Annual Conference at Sprowston Manor last week, appropriately entitled ‘Routes to Growth’.

To send a link to this page to a friend, simply enter their email address below.

The message will include the name and email address you gave us when you signed up.

Email address

  Send link

To send a link to this page to a friend, you must be logged in.

Over the last 15 year’s boom and subsequent banking bust, Britain has built up the largest public deficit we’ve known in peacetime, which is made worse every year by growing public expenditure on welfare, public sector pensions and the NHS. We desperately need to reduce this debt mountain by reducing public spending whilst at the same time helping businesses grow. That’s the idea behind the Coalition’s programme of welfare and NHS reforms, public sector restraint, and its support for business: a rebalanced economy. One that can trade its way out of debt by exporting products and services the developing world needs.

So what does this mean for our area? Well I believe East Anglia and Norfolk have a crucial role to play in this rebalanced economy. The fastest growing markets in the world are food, medicine and energy and on the Norwich Research Park (NRP) and all along the A11 corridor our area is home to world class science, innovation, and specialist businesses in these exact markets. The NRP is home to approximately 3000 research scientists, the world class John Innes Centre and Institute for Food Research, and with the adjacent Norwich and Norfolk University Research hospital next door, is now Europe’s biggest research ‘cluster’ in what is called ‘life sciences’. If you were to link Norwich with Cambridge’s own world class science parks, and its fast growing small company investment community, you’d have a truly world class ‘innovation corridor’ with the potential to spawn hundreds of small high growth businesses. The potential of the Eastern region really can’t be overstated.

New businesses and science parks developing advanced medicines, green energy and sustainable agricultural technologies will be the businesses with the most stratospheric growth potential. Last year we saw the 7 billionth citizen of the world born and as the recent Foresight Report warned, within 40 years we will have 9 billion mouths to feed using half as much land, with half as much water and energy. That’s why innovations like the disease and drought resistant crops being developed at The Norwich Research Park are so valuable.

Having had a 15 year career financing new technology companies before being elected MP for Mid Norfolk in 2010, I was delighted to accept the Prime Minister’s invitation to help as Government Life Science Adviser to develop the policies we need to develop this sector. Because creating the right environment to support these exciting new businesses and export markets involves multiple measures such as investing in our ageing transport and communications infrastructure, cutting red tape and getting the banks and other investors to lend to growing businesses. That’s why I have focused so much activity as a Candidate since 2007 and MP since 2010 campaigning for better broadband, rail links, the A11 dualling, and support for a vibrant rural economy based on high growth businesses through my campaign The Norfolk Way. A sustainable recovery means growth that sustains our heritage and landscape, so it is crucial when planning our model of development in Norfolk to ensure life is put back into our villages and market towns, and growth supports our way of life rather than condemning everyone to commute huge distances in slow and dirty traffic jams. Many of the highest growth businesses of tomorrow are small start-ups like the companies at the Hethel Engineering Centre or Attleborough’s Liftshare, working in small converted farm buildings. With modern communications we can have our high tech growth and high skill economy whilst still retaining our rural character.

Norfolk is the county that gave Britain the seeds of the Agricultural Revolution, its greatest military hero and first Prime Minister. We have a great track record of innovation and leadership and I believe that we can show the way again, pioneering the innovations we need for a sustainable recovery and selling them around the world.