We reinforced our Growing Together agenda at MIPIMUK this week, with Jasmine joining a Metro Mayor Think Tank panel on successful city growth. The panel included Metro Mayors Andy Street, West Midlands, Steve Rotherham, Liverpool city-region and Tim Bowles, West of England.
Representing the voice of business, we laid out three key factors that help a city reach its potential:
Be really clear about your strengths, what are the assets on which to build and growth?
Take an honest look at your weaknesses and prioritise resources around them
And work together – with business, with other stakeholders and with other regions’ shared priorities
On point two, Jasmine cited the capital’s successful growth as simultaneously opening up challenges as housing and infrastructure struggled to keep up. Recent data from our Hard Choices report shows that we’re some way off of the target of building 300,000 homes a year in England and that we need £20bn more funding – £8.6bn in the capital – from both government and private enterprise, in order to bridge the gap and build the homes the nation needs.
There is a huge prize at stake if all UK cities were to become as productive as those in the south east; the national economy would be £208bn larger. And London First is working closely with other city regions to secure this.
We’ve already seen what can happen when cities collaborate. A coordinated pincer movement resulted in a big win at party conference when Government announced its plan to reform the apprenticeship levy.
The panel session also created an opportunity to press for infrastructure investment north and south. Look out for a new piece of economic analysis with our partners in the north on the value to of green lighting both Crossrail 2 and Northern Powerhouse Rail, coming early next year.
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