Search

What about an Eastern Powerhouse, Mr Osborne?

PUBLISHED: 09:38 19 March 2015 | UPDATED: 11:07 19 March 2015

George Osborne stands with his Treasury team outside 11 Downing Street, London. Photo: Jonathan Brady/PA.

George Osborne stands with his Treasury team outside 11 Downing Street, London. Photo: Jonathan Brady/PA.

A “Northern Powerhouse” was mentioned four times in the chancellor’s budget speech.

Spending powers have been devolved to Greater Manchester with money invested into tech and business clusters around the region in order to rebalance the national economy with growth outside of London.

The chancellor said: “Over the last year, the north grew faster than the south.

“We are seeing a truly national recovery.”

In addition, Greater Manchester will now be able to keep all of the additional growth in local business rates instead of them going to the national government.

The offer has been extended to Cambridge and other areas have been invited to apply.

Aside from the headline investment in the Lowestoft bridge crossing and Great Yarmouth flood defences, there weren’t spending commitments for the East of England.

Stefan Gurney, executive director at Norwich Business Improvement District (BID), said: “There’s no investment in the entire East.

“Mr Osborne talks about how important the Northern Powerhouse is but fails to invest enough in the rest of the country outside London.”

He added: “The chancellor should invest in areas that are doing well, not just reward failure by propping up areas that are not.”

Mark Pendlington, chairman of New Anglia Local Enterprise Partnership, said: “The chancellor said that his door is open to support and rewarding those that come to him with good ideas for growth and enterprise. Be assured it is a door we are pushing at.”

Jeanette Thurtle, East Anglia development manager for the Federation of Small businesses said: “We welcome the opportunity for local authorities to benefit from the growth and success of local businesses by retaining additional business rates revenue raised locally. This should encourage local authorities to take steps to support their local businesses to grow and prosper.”

Search hundreds of local jobs at Jobs24

4 comments

  • surely Chloe Smith can sort this out, can't she?

    Report this comment

    martin wallis

    Thursday, March 19, 2015

  • They can't let us keep our business rates and spend on us in the correct proportions to our contributions-or there would be less to subsidise almost everywhere north of a line from Cardiff to Hull. We have always been ignored as a region, and as net contributors to the UK economy we remain ignored-the Tories assume we will mostly vote for them and Labour assumes we will mostly vote Tory and even if we don't we are not Labour's traditional supporters in a high profile bleating whinging Northern region.

    Report this comment

    Daisy Roots

    Thursday, March 19, 2015

  • One wonders how we can expect to have any Govt investment in the area when we have hopeless MPs such as Emperor Nero, Richard Bacon. He has done nothing about the area's economic plight in the last 5 years, so the rest of the Govt is hardly likely to bother. It is a terrible shame however, when you go to anywhere else in the UK and realise just how far behind this area is economically.

    Report this comment

    john smith

    Thursday, March 19, 2015

  • Maybe when he talks of opening doors Mr Lep should take a leaf out of other services who know how to kick doors in speaking figuratively of course Give me men and women about me-----------

    Report this comment

    No to tory boy

    Thursday, March 19, 2015

The views expressed in the above comments do not necessarily reflect the views of this site

comments powered by Disqus

Latest from the EDP

Show Job Lists

Most Read

Featured Pages

Most Commented

Partly Cloudy

Partly Cloudy

max temp: 19°C

min temp: 13°C

Listen to the latest weather forecast

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter