Government reveals plan for £34bn ‘Midlands Engine’
Plan lays out ambitions, opportunities and challenges for region, including the creation of 300,000 new jobs by 2030
The government has unveiled its long-term economic plan for the ‘Midlands Engine’, which it predicts will add £34bn to the Midlands economy and 300,000 jobs by 2030.
Originally launched by business secretary Sajid Javid last December, the partnership will be headed up by Burberry Group chair Sir John Peace and is working with businesses, universities, colleges and the public sector to drive productivity and growth across the Midlands.
Local stakeholders have worked together to develop the Midlands Engine Prospectus, which details the ambitions, opportunities and challenges for the region.
The government claims that during its time in office the Midlands has been growing faster than the UK average (excluding London), with 279,000 new jobs created so far.
Javid commented: “These are exciting times for the Midlands – the economy is growing, businesses are thriving and inward investment is up. By capitalising on the region’s assets under Sir John Peace’s leadership, the Midlands can become even greater than the sum of its parts.”